Thread: Credit Card Bailouts?

Guys, please tell me I was just hearing things.

I heard a radio advertisement that claimed Stimulus funds were available to reduce your credit card debt.

Please tell me this aint so.

Dixie

No Dixie, you weren't hearing things. I heard the tail end of the report on Fox this morning. But they declined it, thank God. They actually considered having us, the taxpayers to pay the irresponsable credit card holders balances! But 'they' voted against it. I'm waiting for the full story to come up again...Unbelievable!

I don't agree with giving money for credit card payments, but a tax break on the credit card interest would be helpful. A cap on the rate that banks can jack the interest to wouldn't hurt either.

Years ago, a portion of all credit interest paid for any type of credit account was deductable.

Families have been dealing with extraordinary expenses.. $4.00 a gallon gas, lay offs and loss of income and a lot of people have had to use their credit to stay afloat.

I think a lot of people are just maxed out.....with no help in sight.

I think what you are hearing is a carefully crafted commercial by one of those "debt relief" companies. I heard the same thing and it's misleading. The banks may be getting money for bad debt, but they aren't helping individuals with their credit card bills.