While there is no doubt that the law requires repayment of credit card debt, nowhere has it been specified that you cannot ask for discounts or waivers from your credit card issuer. Creditors are currently being more generous than ever.
A large number of the population is in debt due to overspending and other poor financial choices. The introduction of Obama's financial packages has caused the creditors to be more accommodating when it comes to negotiating debt settlements.
The confusion of whether one should not opt for consolidation or debt settlement is a perennial one. There are merits in both approaches. However, the final decision is not as difficult as it is when comparing debt settlement with bankruptcy
The result of the federal stimulus package and the policy decisions is that debt relief has become a lot easier to obtain. Learn how to capitalize on the current economic conditions to eliminate your unsecured debt.