Good news to consumers who are struggling with large amounts of debt! The government has finally come up with a plan in which policies to control fraud and the accumulation of high payments in debt are now being regulated. Programs have also been developed and designed to be applicable to companies and individual consumers in order to legally erase debt.

These programs emphasize particularly on credit card debt reduction and handling credit card and loan policies for the protection of consumers. Government debt relief has certainly become a great source of financial assistance to the people and therefore consumers should take advantage of this in order to be able to legally erase credit card debt.

To give an example, the government has released a national government debt program called Hope for Homeowners. This program addresses high mortgage payment problems and annual interest rates by allowing homeowners to get higher home equity through what they call "write downs".

Likewise, credit card holders are protected from hidden charges through policy regulation which involves credit debt reduction and removal of particular charges. This is known as the Credit Card Accountability and Disclosure Act. It is predicted that in the next ten years or so, these programs will be able to finally legally erase debt (or reduce it for that matter) and prevent unmanageable increase of credit debt.

Another debt relief program developed by the government is the Fraud Enforcement Recovery Act. This act provides the Department of Justice total authority over the pursuit and prosecution of fraud-related crimes involving commodities and mortgages. The Department of Justice is also assigned to prosecute individuals who are against any of the debt initiatives of the US government.

All of these programs are made to help both companies and consumers through policy regulation and control, but take note that they are not in any way initiated for the purpose of erase debt by giving away money to those who have large amounts of debt. If you're looking for financial assistance that gives away money, you won't find it in any of these programs. To put it simply, these programs were created to just lessen the effects of debts in order for consumers to manage them easily.

In order to get a better grasp of what these government programs are, take the time read through websites offering information about them online. Be aware though that some of these websites may or may not ask for extra fees if you'd like to acquire more details about the program. Always remember that the programs and the information about them are free for you as a consumer to read about.