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There are many reasons that the government provides debt relief. The main reason and purpose behind government debt relief is that people can keep their homes and vehicles.

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Q: What is the purpose of the government debt relief?
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Continue Learning about American Government

The pros and cons of third world debt relief?

A pro of third world debt relief is that it gives countries the chance to develop. A con is that the money could have been used in your own country.


How did the government incur millions of dollars in debt?

There are 3 types of debt a government can occur (Export Debt), (Import Debt) and (Social Debt). Export Debt (money owed to the government from Another Country that isn't paying) Import Debt (money owed to another country by the government) Social Debt: This is what I am assuming you are referring (the deficit). The deficit is money borrowed on "future" income from collectible taxes and fees from the governments citizens. They borrow against it (like a credit card). Its money owed to themselves. Its not a true debt in the conventional sense. However if left upaid then the government can't honour future benefits to its citizens and the country would collapse (like Greece and Spain).


Is a home mortgage debt considered a federal debt?

No. A federal debt is a debt that is owned to the federal government. A home mortgage is a debt that is owed to the lending agency, be it a bank, a mortgage company, etc.


What is money paid to the government called?

The national debt.


What was the purpose of Hamilton's program--to create a wealthy class and bind their loyalties to the national government or to build a strong and prosperous nation?

He wanted to relieve the country of national debt, which is where the Economic Plan came out. He wanted to create a national bank, place high tariffs to reduce debt, and fund at "par" on government spending to prevent further debt.

Related questions

What is the purpose of debt relief companies?

The purpose of debt relief companies is to help a personal get out of financial debt. The usually pay the company to help them get back on track financially.


Where can you find services on debt relief?

The government offers information on debt relief for people that are down on their luck and in over their heads. You should do a check online and see what you can come up with on the government website for your state.


Are banks willing to provide some debt relief so that I am able to stay in my home?

No, the government on the other hand will provide some debt relief so that I am able to stay in my home


What debt relief options are available?

Fortunately when it comes to debt relief there are nearly as many options as those that lead to the debt. Some of the websites you can visit include Freedom Debt Relief, Best Debt Relief, and Debt America.


What is the leading debt relief company?

The leading debt relief company would be National Debt Relief (855-807-1484). This is according only to 2013 debt relief reviews. The next top company would be CuraDebt then followed closely by CareOne Debt Relief Services.


When was Freedom Debt Relief created?

Freedom Debt Relief was created in 2002.


Which companies offer debt relief services?

There are many companies that offer debt relief services. Some of these companies that offer debt relief services include DebtWave, National Debt, and Premium Debt Help.


Where can one find information on debt relief solution?

Debt relief information can be found at a number of websites. One can go to the Bills website or the Freedom Debt Relief website or the In Charge Debt Solutions site.


Where is debt relief offered?

There are many debt consolidation programs out there that will offer debt relief. You need to make sure and find a reputable service tho. Debt relief information can be found at most credit unions and banks.


What is associated tax relief?

Associated tax relief is a relaxation of the higher taxes paid, in order to get the consumer to pay a fair share of the debt occurred by taxes. By using this relief, it keeps the taxpayer in the good graces of the government, and allows the payer to work through his debt without letting it destroy him.


Why is Debt Relief Counseling so important?

Debt Relief Counseling is very important because an individual can put themselves in serious debt without knowing the answers on fixing it. Debt Relief Counseling can be found in the telephone book.


Where can someone get free debt relief?

There are a number of companies which offer help with debt relief. However, free debt relief simply does not exist. Each company takes at least a small profit from the money they save from consolidating your debt.