With the economy in such a mess, it is not hard to find oneself struggling to make ends meet. Layoffs, unemployment, and cuts in pay all rule to stressful times.
In 2008, the American people elected President Obama chiefly because of his potential for change. Whether you agree with his solutions or not, one must let in that he has come out of the gate running. Debt relief has been on the minds of every American.
Everyone has heard of the controversial federal dollars given to the edges and big businesses to bail them out. Funding has been allotted increasing student financial assistance in the forms of grants and scholarships, student loans are now repaid on a schedule based upon income and household size, instead of one rate. Homeowners are promoted to refinance their loans for lower fixed-rate interests, or to go into into a loan alteration that will lower the monthly payments for those who are in default. Low-income homeowners have grants obtainable to them for home repairs, heating and air conditioning repair and the substitute of windows and doors to help make the home more energy efficient. Small business loans are becoming easier to acquire, especially for women and grants have been established for business owners who use low-income workers.
Credit card companies are now being limited regarding the interest rates and hidden fees they are able to charge. Debt settlement has become an option to bankruptcy. In addition, the federal government offers free self-help education for all of the financial programs obtainable, civil legal issues and bankruptcy.