Government Handing Out Secret Bailout Money to Pay Off Credit Card Debts

Posted by as Ask Steve, Consumer Debt, Economy, Get Out of Debt, Hope

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This information is for all the people who keep emailing me about the “secret Obama backed bailout plan for free government money to pay off credit card debts.” You win and I’ll tell all.

I’m not sure who let this rumor out of the bag but if I find them I’d have a very stern talk with them.

Maybe the problem is that while people keep reading the news about large companies getting billions of dollars in bailout money, they assume that there is free money waiting for them.

I’m the first to agree that if we want to quickly stimulate a consumer based economy to drive people back into the stores to shop, spend and buy, that paying off consumer credit card accounts is a good way in the short run to do just that.

The only similar thing I can remember is a Kuwaiti government plan to pay off consumer debts.

I hope this is the last time that I have to write about these alleged programs that do not exist. There is no free money or government money that is being given away to pay off consumer debts or credit card accounts.

The only pseudo free money available in government money would be one of the government grants that are available. Once you take a look at the available government grants that are hyped as free money you’ll see what is really available.

I’ll never say never but I would seriously doubt that the U.S. government is ever going to give away free money with no strings attached to let the average person pay off their bills. And if they do, and I’m wrong, the first round is on me.

Source: Government Handing Out Secret Bailout Money to Pay Off Credit Card Debts