What is the government policy for credit card debt relief?
The new American government faced the root shaking problem of recession when it took charge. The government has generated funds for financial companies so that they can walk out of the present turmoil. The financial sector is the worst struck corporate section of the American economy. With sufficient funds available from the government, these companies can provide discounts to the credit card holders who are not willing to pay anything. Money granting companies cannot do this on their own because they have lost billions of dollars. What is the purpose of accepting reduced payments? Nowadays, we are seeing that credit card companies are accepting half or even less of their actual payments from the debtors and clearing their accounts. In this way, the rate of bankruptcy will decline and the economic conditions will improve. To prevent the customers from filing bankruptcy, credit card companies are prepared to negotiate and accept what they can comfortably pay. Credit card debt relief has
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