Is it Real?
Has President Barak Obama included personal debt relief in the stimulus package? That seems to be the rumor, and many websites are actually offering consumers an option to apply for government stimulus relief. In fact, there have been so many people signing up for this stimulus relief that the federal government has stepped in and put the kibosh on it.
The reason is: Because there's no such thing! The stimulus package passed by Congress, and signed in to law by the President, has no provision whatsoever for personal debt relief. But that hasn't stopped unscrupulous companies from trying to lure unsuspecting consumers into programs they think are government backed. So the FTC has stepped in with a probe of these offers supposedly promising government assisted debt relief.
Don't be fooled.
There is no government bailout for the consumer. Your only options are to negotiate your debt down or to file for bankruptcy. If you decide on the former, a debt settlement attorney is your safest avenue. Creditors are obligated to deal with law firms acting as your legal representative.
Getting your debt accounts settled for pennies on the dollar will enable you to pay off your creditors and start re-building your credit. The sooner you get started, the sooner you'll be in the high grass of financial independence.