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Government Debt Reduction Plan

socalled Rep Points:

Posted on March 26, 2010 at 2:23 am

Is there a government debt reduction plan?

Heads will roll...on the floor Rep Points:

Posted on March 26, 2010 at 3:08 am

Is there a government debt reduction plan?- for individual consumers? I'm afraid none. But there are professionals that could help you, what are your debt types? How much do you owe?

Desmond & The Tutus Rep Points:

Posted on March 26, 2010 at 3:36 am

Is there a government debt reduction plan?-- Not plans but more like grants, benefits,and aid ..that is, if you qualify, you may go here - http://www.usa.gov/Citizen/Topics/Benefits.shtml

Destiny Rep Points:

Posted on March 26, 2010 at 4:21 am

There might not be any government reduction plans for individual consumers but you can turn to the debt relief industry for help. Of course, it;s not free - there would be fees, but you'd be glad that your monthly payments would be greatly reduced in the program. There are 2 programs available for you if your debts are mostly unsecured (credit card) - choose from debt settlement for large debt amount or credit counseling for relatively low debt amounts.

bah bah black sheep Rep Points:

Posted on March 26, 2010 at 4:24 am

Right, and just to zoom in on debt settlement. If your balance is $10k or more and your accounts are past due - or almost. This program is best for you. If your account is still with the original creditor , within 180 days, prepare a high settlement offer, about 75% - however, if it's more than 180 days, it could be for 35-70% (with a collection agency) depending on the negotiation. You can do this yourself or hire the services of a settlement company.

don'tyoushiver Rep Points:

Posted on March 26, 2010 at 4:27 am

Professional debt settlement/negotiation is prohibited though in the ff states (so you might want to look for a law firm/debt settlement company) or just do - it - yourself - :::Giorgia/ Idaho/ Kansas/ Maine/ Mississippi/ Minnesota/ North and South Carolina/ Utah/ Wisconsin

pocketfulofsunshine Rep Points:

Posted on March 26, 2010 at 4:31 am

Here's a government link about debt reduction plans - or more like an article pertaining to it - http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre19.shtm

Good To Me Rep Points:

Posted on March 26, 2010 at 5:24 am

Government debt reduction plan? it could be referring to The Mortgage Debt Relief Act of 2007-- which generally allows taxpayers to exclude income from the discharge of debt on their principal residence. Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a foreclosure, qualifies for the relief. http://www.irs.gov/individuals/article/0,,id=179414,00.html

The Count Rep Points:

Posted on March 26, 2010 at 5:29 am

you guys are right, there's no Government debt reduction plan for individual consumers - it's probably just a concept - which resulted in several acts - like the Credit Card Accountability Responsibility and Disclosure Act of 2009 (http://www.govtrack.us/congress/bill.xpd?bill=s11 1-414) - which is now in effect.