Does the Government Offer Debt Assistance Services?


Quick Answer

Although some military service members receive debt protection pursuant to the Servicemembers Civil Relief Act, as of 2016, there are no government settlement programs for civilians, according to USA.gov. Scrutinize debt relief agency claims of a "new government program" for debt relief, advises the Federal Trade Commission.

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Full Answer

Consumers seeking debt relief should attempt to negotiate settlements with creditors directly and seek out bank hardship programs if they have only a few debts, according to Bankrate. Consumers with several creditors or who have been unsuccessful negotiating with creditors should seek assistance from nonprofit debt settlement companies to obtain financial advice in managing debt or a debt management plan, which provides lower interest rates and fee waivers from creditors.

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