What Is The Obama Debt Forgiveness Plan?

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What Is The Obama Debt Forgiveness Plan?

everybodywaskungfufighting Rep Points:

Posted on June 25, 2009 at 3:02 am

does it cover student loans or just credit cards?

peterpanamerican Rep Points:

Posted on June 25, 2009 at 3:09 am

I haven't read about the Obama Debt Forgiveness Plan tackling student loans..I wonder if somebody could verify..but there is Credit Card Accountability, Responsibility and Disclosure Act effective next year (9 months from now or less) and it's about:-credit card companies giving consumers 45 days before they can up the interest rates.-the consumer's payment must first be applied to the highest interest rate balance.-and not marketing to minors (below 21 years old)

youneverknow Rep Points:

Posted on June 25, 2009 at 3:14 am

is it true that it was the banks who've requested for this bill to be passed into law? how does it benefit them?

pocketfulofsunshine Rep Points:

Posted on June 25, 2009 at 3:18 am

I'm not sure...I suppose if they did, that it was not a united front, some probably objected to it..and isn't it better if they get to be paid even just a portion of the debt than not get paid at all?

ispydebt Rep Points:

Posted on June 25, 2009 at 5:59 am

I am curious if the Credit Card Accountability, Responsibility and Disclosure Act is just part of the Obama debt forgiveness plan or that's it...is it the same thing?