IS THERE A PRESIDENT OBAMA DEBT RELIEF PROGRAM?

If you are searching for Obama debt relief programs, you are going to be disappointed to find there are not any. Even though there has been so much publicity about the stimulus bill and the money he is giving away, there is no official program that deals with debt.

One place you might try is a debt consolidation company called Debt Help 101. They match you with counselors who will help figure out ways to resolve the debt and they work with anyone who has $10,000 or more of credit card debt.

Debt relief grants and other debt reducing programs have been in heavy demand for several years ever since this recession started. The more people that lose their jobs or have to take pay cuts, the more people that get into debt trouble. This is the problem right now in our country: there is so much debt that things cascade down and down with no end in site.

Debt relief can come in several forms but is usually seen in lowered interest rates, debt forgiveness, or some sort of infusion of money such as a grant. Debt consolidatioin companies try to work with your debtors to combine your debt into one payment at a lower rate than you were paying before. For some people this works fine but for others that are out of work and have nothing, the lower rates don't help them because they can't repay the money at all.

People are obviously hoping that Obama has set up some official government debt relief program to help them and they have become confused with all the talk of the stimulus money. Folks are desperate and are in big trouble and are hoping Obama and the government can bail them out too. Unfortunately for them, it looks like this will not be the case.