There are many ways that Americans have been trying to beat credit card debt.
And the recent stimulus package is one of them.
If you have over 10 K.
that you well to any one of your creditors, then you are able to get your credit card debt legally erased.
However, many people do not think they have the right to have this done because they are in such problems that they fee there is no way out.
And that is exactly why the recent stimulus package has been expedited to the American economy as of the first quarter of 2009.
They are quite a few Americans that are knee-deep in credit debt and they have been searching for a solution for quite some time.
So if you are trying to eliminate your existing credit card debt and you are having a very hard time paying them down, then this package can help you alleviate all of the past due balances that you have and that you are not able to pay for.
To date, this is the only government help with credit card debt that you can get and it is the quickest way to pay down all of your debts.
But what about those who don't qualify for the stimulus package? If you do not qualify for this package, then you may want contact your creditors and ask them if you can go on a hardship program that allows you to effectively pay down your debts over time.
This will solve two problems.
This will help you get a lower interest rate and will also lower your payments while you're waiting for a better solution to help you pay down your debt load.
As a final not and as we mention in every article, it is best to pay cash for all your purchases because this will help you to never get into debt again the rest of your life.