The Credit Card Debt Relief Grants program which is named as "The Obama's protection for credit card debt relief" was initiated by the President Obama in order to cease the diverse problems which are creating in the economy due to the individual indebtedness. Since it is not the interest of the government for its citizens to be indebted this new legislation was implemented to help the people reduce their debts.

The major reason for the government to put forward these credit card debt relief grants was the fact that credit card companies started charging unbearable and unlimited charges from the account holders.Considering this the president Obama presented these new set of laws which are as fellows,

01) The credit card company has to inform 45 days in advance to its customers about any change that is going to be taken place concerning the purchasing prices of the product in the credit card bill.
02) The creditors are confined to levy different charges unless the customer is 60 days delay in payment.
03) They are not allowed to randomly cancel the accounts of the card holder with out a proper notice of 30 days.
04) The creditors are not allowed to issue cards to college students who do not have verifiable income to show.

These credit card debt relief grants had a major impact on the credit card companies. Apart from these laws the government also injected larger sum of money to balance the collapsing economy.Having received 300 million dollars in the economy from the government, the creditors are required to support the Americans to settle their debts. This program is rather simple and if a person has over $10,000 in debt he is qualified to get his debt eliminated.

What he or she has to do is that getting the help from a debt settlement company which provides legal advice and consolidation to eliminate the debts. They will deal with the creditors on behalf of their clients and try to cut off the credit amounts. And the amazing thing is that these debt settlement services cost nothing as they are facilitated by the credit card debt relief grants of the government and only a phone call is needed to contact them.

But one needs to be careful when choosing the most appropriate debt settlement company. The right way is to search for a debt relief network which allows selecting the legitimate debt Settlement Companies with proven results.

Getting out of debt is not impossible but it will not happen over night. Consumers who are serious about debt relief need to be determined. If you have over $10 k in unsecured debt you should really consider debt settlement. Consumers can expect to realistically eliminate 60% of their unsecured debt with a settlement. To find the best performing debt settlement companies in your state use the following link:
Free Debt Advice [http://www.creditdebtsettlements.com,/]
contact us for free debt advice = 8883613619