Debt Free Stimulus?
Posted on October 28, 2009 at 9:37 pm
Anyone ever heard of a debt free stimulus? What;s that about?
Posted on October 28, 2009 at 10:51 pm
Correct me if I am wrong, but a "debt free stimulus" is a government-sponsored program specifically designed to get debts paid off. I believe President Obama was one of the proponents of this program.
Posted on October 28, 2009 at 11:20 pm
The debt free stimulus package claims to provide a federal debt relief program for all US citizens, so that they would be able to get out of debt. While this may be promising, especially to those who are deep in financial hardship, there actually isn't a federal debt relief program that exists, nor are there any free debt relief grants that the government provides for all our bills to be taken care of.
Posted on October 29, 2009 at 2:11 am
Sadly a lot of consumers have believed the hype that there is such a thing as a debt free stimulus that will help people get out of their debt. In fact a lot of websites and advertisements have claimed that Pres. Obama's stimulus package have a tendency to imply that debt relief is part of the deal, when in fact it's not.
You can read more about that here: http://www.reporternews.com/news/2009/jun/28/stimlus-money-not-for-bailout/
Posted on October 29, 2009 at 2:29 am
If a debt free stimulus isnt possible then what can I do to take care of my debt???
Posted on October 29, 2009 at 3:11 am
You have a number of options to take care of your debt, evidently because no such debt relief stimulus exists.
You can either avail for one of the following:
- Secured debt consolidation loan
- Unsecured debt consolidation loan
- Chapter 13 bankruptcy
- Debt settlement
- Credit counseling
- Balance transfer
Posted on October 29, 2009 at 3:33 am
Chapter 13 bankruptcy? You're kidding, right?