Debt relief programme was introduced by federal government to solve the debt issue which was considered the major cause of recession. Government designed a programme to solve the liabilities legitimately as the debtors had no option to solve their arrear issue. This crisis would lead to more people going for bankruptcy.
Therefore government decided to introduce relief programme so that it could bring stability in the economy of the country. Government released billion of dollars to the banks and other financial institution to compensate the arrears created by the customer.
Banks were facing financial problems due to non payment of credit card bills, loans etc. Now that the government has released the money to the banks against non payment of public debts, a person can obtain discounts on loans and credit card dues by just submitting them to the proper proof and negotiating them the lowest amount by help of a financial expert.
Financial expert has legal knowledge to deal with debt issue as they are fully aware of all the loop holes. It is important that a person should have more than ten thousand dollars in unsecured debt in order to get discounts up to fifty to sixty percent of the loan amount.
Borrowers find negotiations convenient as it is favourable to their pocket. Creditors also find debt negotiation beneficial as they at the risk of losing huge sums of money if the borrower files for bankruptcy. Hence these relief programmes help in bringing about financial stability.
It can be clearly concluded that debt settlement is a better alternative to bankruptcy. Settlement not only helps a person in getting out of debt but also helps him to keep all his assets intact. You can find a number of settlement companies to guide you through the entire process.

In current market condition it is better to opt for debt settlement than opting for bankruptcy.