If you are like many other Americans, you may have found yourself over your head in credit card debt
. There are new programs available that can help you to have all or a portion of that debt eliminated. It would be a wise move for you to research the recently passed stimulus package. If you leave this debt untreated, it could cause total financial ruin.
Debt management and credit counselors are there to help you. They will take a look at all of your financial information, your credit report, and your monthly income and work out a manageable budget for you. The credit counselors will help you come up with a monthly payment plan to be distributed among your creditors.
You legally and ethically erase your past due debts. There is a safe and secure way to pass sensitive information via the internet. Many of these companies help you to get out of debt and stay out of debt.
First off, when looking for a debt management company you need to do your research. Not only do some companies charge exorbitant fees; some companies aren't legit at all. When you do find a legit company, make sure you are only sending information on a secure website. If their website is not secure, do not send any personal information as it can be hijacked by others.
To try and prevent this, a government stimulus package was put into place that will address the problems of people with 10k or more on their credit cards. This help comes in the form of straight out debt reduction. The government will pay off part of your credit card balance. How much they pay may vary, but it is usually cut by more that half.