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There have been some articles doing the rounds on the internet which refer to the Obama credit card debt relief bill. My advice to you is to simply ignore their wild claims, because there is no such thing as the “Obama credit card debt relief bill”. Indeed, most of the claims attached to this bill are wide off the mark and are only being used as a way to hook gullible readers into singing up to a credit card debt settlement program.
Amongst the many more extravagant claims, being made on these articles, are suggestions that the credit debt settlement company can only charge you a fee if they manage to reduce your debts by more than 35%. Some even claim that the government is going to personally underwrite up to $10,000 of your credit card debts.