San Francisco, CA (PRWEB) June 3, 2010
Federal Debt Relief Program, a non-government, non-government related debt relief program, sheds light on the issue of a credit card debt relief bailout. The numbers don't lie: the total U.S. revolving debt (of which 98% of is credit card debt) stands at a whopping $852.6 billion as of March 2010, according to the Federal Reserve. Simply put, Americans today are buried in credit card debt and in need of a credit card debt relief bailout. Consolidation and relief programs can help to remedy the situation for many.
Credit card debt consolidation can be many things. It can simply be a balance transfer, it can involve the taking out of a debt consolidation loan (either unsecured or a home equity loans) to pay off the existing balances, or it may involve a form of debt negotiation to forgive large portions of the credit card debt principal.
These types of programs and services are offered by professional debt relief firms, debt management services, debt consolidators, consumer credit counseling, and direct lenders. The process to begin a credit card debt consolidation or relief program can typically be started online.
Yet in many cases, the hardest part of getting out of credit card debt is simply making the decision to seek help. If a person suffers a job loss, illness, serious injury or other serious crisis and they are finding it difficult if not impossible to continue making their monthly payments on credit card debt, relief and consolidation programs can provide immediate help.
These credit card debt consolidation and relief programs in most cases have established relationships with most major creditors and they can be very persuasive and successful in negotiating better terms for those who are suffering financial hardships and are in need of a credit card debt relief bailout.
Federal Debt Relief Program offers a free debt consultation and debt savings quote which can be taken advantage of the company's website: