Federal Debt Relief Help - How Obama"s Stimulus Money Can Help Debt Relief Options
When you try to get debt relief, you will have to prepare a list of reasons why the lender should help you out.
Needless to say, the various reasons you provide should be based on the benefits that the lender will receive.
A long list of the fantastic advantages that you will enjoy out of the debt relief process will be of no use whatsoever.
One of the biggest problems when negotiating with credit card issuers is that there is very little that the card issuers will gain by providing relief to you.
The entire debt is an unsecured debt.
This means that the bulk of the income will come in the form of interest.
More often than not, people want discount on the interest that is charged by the credit card issuer.
The principal amount repayment is also exempted if the individual is very close to bankruptcy.
In such a scenario, the entire transaction begins to sound like a loss making one for the credit card issuer.
Relief from debt should not end up creating a huge loss for the lender, right? This is where the stimulus package can make a huge difference.
You can indicate that the presence of the stimulus money in the economy ensures that the losses of the credit card issuer are reduced to minimum.
And it is true.
When bulk of the money has been passed on to the credit card issuer and when this low interest loan is enabling them to overcome the financial crisis, they certainly can afford to pass on the losses to the government.
And that is exactly what they are going to do.
The presence of the stimulus money changes the equation.
A 50% discount sounds like a huge loss but the continuation of the stimulus package for even a single day because of the generous approach of the lenders is going to provide lot of benefits.
No other bank or financial institution is going offer a few hundred billion dollars of loan money to a failing institution, right? As long as the stimulus money is present, the moral and ethical aspect of the deal is also taken care of.
You are the person who paid your taxes on time and ensured that the government had the money to offer as debt settlement.
When you are asking your share of the stimulus money, you are not doing anything unethical or immoral, right?
Needless to say, the various reasons you provide should be based on the benefits that the lender will receive.
A long list of the fantastic advantages that you will enjoy out of the debt relief process will be of no use whatsoever.
One of the biggest problems when negotiating with credit card issuers is that there is very little that the card issuers will gain by providing relief to you.
The entire debt is an unsecured debt.
This means that the bulk of the income will come in the form of interest.
More often than not, people want discount on the interest that is charged by the credit card issuer.
The principal amount repayment is also exempted if the individual is very close to bankruptcy.
In such a scenario, the entire transaction begins to sound like a loss making one for the credit card issuer.
Relief from debt should not end up creating a huge loss for the lender, right? This is where the stimulus package can make a huge difference.
You can indicate that the presence of the stimulus money in the economy ensures that the losses of the credit card issuer are reduced to minimum.
And it is true.
When bulk of the money has been passed on to the credit card issuer and when this low interest loan is enabling them to overcome the financial crisis, they certainly can afford to pass on the losses to the government.
And that is exactly what they are going to do.
The presence of the stimulus money changes the equation.
A 50% discount sounds like a huge loss but the continuation of the stimulus package for even a single day because of the generous approach of the lenders is going to provide lot of benefits.
No other bank or financial institution is going offer a few hundred billion dollars of loan money to a failing institution, right? As long as the stimulus money is present, the moral and ethical aspect of the deal is also taken care of.
You are the person who paid your taxes on time and ensured that the government had the money to offer as debt settlement.
When you are asking your share of the stimulus money, you are not doing anything unethical or immoral, right?