National Debt Relief Program - The Truth About The National Debt Relief Stimulus Initiative

During his first month in office, President Barack Obama pushed through a a national debt relief bill in response to the financial crisis that had occurred during his predecessor's last year in office. The taxpayers were rightfully angry, as it was done with the money collected from their taxes that paid for it and the corporations that received it thoroughly abused the privilege, and unfortunately, the bailout contained no national debt relief programs for consumers. Truth of the matter is that it contains no solution for consumer debt, period.

Slicing Through the Mythos

The biggest recipients of the bailout funds were banks, the very same ones that were crushing hundreds of thousands of consumers with credit card debt, with no end in sight for some very egregious practices. Later legislation did put some curbs on some of the practices but it was far too late for the majority of those waiting for some relief. Because of this oversight, the truth of the matter is that there is no such thing as a government funded debt relief initiative for consumer debt. But then, why are commercials still flooding the airwaves proclaiming that there are?

It does not stop there. Beyond the commercials that are jamming the Internet and television stations everywhere, desperate consumers receive thousands of letters in the mail or spam emails from firms claiming to have a direct source of government funded debt relief initiative specifically aimed to erasing all of their debt. Truth be told, it is all propaganda provided by unscrupulous firms looking to get their slice of the profit pie, just like the banks and other bailout recipients, off the suffering consumer.

False Promises with No Foundation

The worst purveyors of patented lies about government funding have even taken to slapping the President's name, as well as some highly placed government financial gurus like Ben Bernake onto these fictitious sales pitches, in order to make it sound just that much more legit. Unfortunately, by the time the intended victim finds out that there is no such relief being funded by the government, they have already signed a contract with these firms, placing all control of their debt in the company's hands and making themselves subject to outrageous fees to have them act on their behalf.

What's worse about the whole thing is that these so-called programs supplied by these bogus firms are not even helping the target's credit rating, nor are they acting immediately to help them get out of debt. Instead, their clients are put through a debt settlement program, stringing things out, while their debt keeps climbing because their creditors are not getting paid. The majority of them find themselves much worse off than they were when they started, because they believed all of the false promises and some even wind up filing for bankruptcy in desperation, dooming their financial future even further.

Is There a Better Way?

The truth about these firms' version of a debt settlement program is that the only ones truly being helped in this scenario is the agency and the creditors. The negotiations that seem to take forever actually only reduce the consumer's debt minimally, because both negotiating parties still desire to make a profit. The end result of the negotiations may only save the consumer a few dollars a month, not a significant improvement when they were barely able to make the minimum payment every month in the first place.

A better solution for those suffering from consumer debt is to ignore all the hype about government funding, investigate thoroughly any firm that claims they have secret knowledge on how to take advantage of it and look instead for non-profit consumer debt relief agencies. They are the ones truly interested in providing their clients solutions they can live with in these uncertain times, without looking to pad their own profit margin in the process.

What a Non-Profit Has to Offer

Rather than push a program onto their client that may not help them in the end, these agencies will work with their clientele, educating them on all of their options to get out from under debt. Rather than relying on only a few questionable methods, they pull out all the stops to help each client make the right decision on how to proceed in eliminating their debt. This they do by educating them on solutions like debt consolidation loans, true debt settlement negotiations, credit counseling and consumer education about affordable payment plans.

Why rely on government-based rhetoric like the National Debt Relief Stimulus plan that contains no salvation for you, the consumer, yet is being exploited by profit hungry firms that will probably take more from you in fees than you actually owe in debt? Seek out the non-profit debt relief agency that is right for you, either through the Internet or the Better Business Bureau and get started on the road to a true, full recovery of your credit reputation before it is too late.