chalobazar
3. Fact or fiction regarding government credit card debt relief programs?
One often asked concern is whether government credit card debt assistance initiatives exist. The brief response is: no, there are no direct federal initiatives aiming at credit card debt forgiveness. Government control guarantees consumer rights, nevertheless, and some indirect assistance can be of use.
Reality Check: Stories of government-backed credit card forgiveness are often hoaxes. Companies promising miracle debt eradication for a charge should be avoided, according the Federal Trade Commission (FTC).
Programs like SNAP (food assistance) or TANF (financial help for families) can lower living expenditures, therefore freeing instructors to devote more money toward credit card payments.
Federal bankruptcy laws, which apply as a last option (e.g., Chapter 7), can discharge credit card debt, albeit this affects credit scores for 7-10 years.
udham singh
