Obama Credit Card Debt Relief: Will the President Pay Your Debts?

Obama Credit Card Debt ReliefWill the President pay off your debts?

No. He won’t.

There is no such thing as Obama credit card debt relief or an Obama credit card bailout program.

These are simply marketing tactics used by debt relief companies to make you think you’ll get something for free.

The Google ads adjacent to this article might even use that language. The same message has been seen on TV and heard all over the radio.

The pitch you might have heard is that consumers with over 10,000 in credit card debt could have a significant portion of their principal wiped out, never to be paid again. This simply isn’t part of the Obama economic stimulus package that was released onto our economy back in early 2009.

Nor is it a part of the credit card accountability, responsibility, and disclosure act (CARD Act) that went into effect earlier this year. There is no Obama credit card debt relief program.

It’s a shame that his administration (with their constant bailouts: cash for clunkers, stimulus, Obamacare waivers, Solyndra loans, etc) sets this kind of tone and that people would expect Obama to bail them out.

It’s sad when you see the sheeple who think Obama is going to pay their mortgage, or gas, or other basic service. If the government pays for everything, guess what? They own you. You’re a slave to them. Don’t be a slave.

The companies behind these “Obama credit card debt relief” messages are shady debt settlement companies and Google should know better than to take their money. If you truly want to experience credit card debt relief, then simply make a plan to pay down your credit card debt.

The best way to get rid of your debts once and for all is to take personal responsibility and pay them off. There are no shortcuts to a successful financial life. You need to pull up your bootstraps and work hard.

What good is a life where you get it for free anyway? No man is happier than the one who catches his own fish everyday. Don’t take the free fish. Learn to fish and do it yourself. You’ll gain your self-respect and your freedom.

To assist you in your do-it-yourself plan, use a service like ReadyforZero.com to help you legally eliminate credit card debt. If you do decide to use a debt settlement company, please go through the NFCC.org to find a non-profit company.



Last Edited: March 2, 2016 @ 1:26 am The content of ptmoney.com is for general information purposes only and does not constitute professional advice. Visitors to ptmoney.com should not act upon the content or information without first seeking appropriate professional advice. In accordance with the latest FTC guidelines, we declare that we have a financial relationship with every company mentioned on this site.
About Philip Taylor

Philip Taylor, aka "PT", is a CPA, financial writer, FinCon CEO, and husband and father of three. He created PT Money back in 2007 to share his thoughts on money and to meet others passionate about managing their finances. All the content on this blog is original, and created or edited by PT. Read more about Philip Taylor, and be sure to connect with him on Twitter, Facebook, or view the Philip Taylor+ Google profile.

Comments

  1. This is really a good piece of information for people get attracted to fake scams of debt relief. Thanks for posting.

  2. I actually have verified accounts of people maxing their credit cards when Obama was elected (I think maybe even after he won the Democratic nomination) and telling debt collectors that Obama was going to take care of it.

  3. Well, here’s hoping they finally get it.

  4. cant just forgetadebt says:

    fair point. the messages are sort of silly. a good reminder by you that no politician will simply allow people to just forget a debt, regardless of the president.