There are many Americans facing tough financial situations as a result of the economic hardships. This has particularly affected the people who already have existing debts like hospital bills, student loans and credit card debts. When a person acknowledges that they need help, it is recommended that they choose the government consolidation that suits their situation best. To achieve this, one has to select and apply for the programs that they are qualified for.There are billions of dollars that have been set aside where President Obama has made sure that there are various debt consolidation programs that can improve the finances of the average citizen. This helps to reduce the money they owe tremendously. Although the money is already in place not very many people are aware of it in spite of the fact that it is supposed to reduce the debts that are owned by Americans. Reducing the debts makes it easier for an individual to pay it off since there is less financial strain which is not only beneficial to the person but to the creditors as well.There are numerous benefits one gets by using the government debt consolidation plans. To begin with, the monthly payments are reduced to manageable amounts and the interest rates are also brought down. This ensures that the total amount is brought down to something a person can handle with ease. One also gets a fixed monthly payment which is a good step that chops down the entire debt. The biggest advantage of the plans is that one does not need to use collateral.To benefit from the plan, carry our research to find the programs that you are qualified for and find out the savings that will be made. This can be done fast online for free. If you don’t have an ideal on the direction to take, you can get help from a debt relief agent. This is also free of charge and it will help you make an informed decision when selecting the best plan which will be the best solution to help you get rid of your debt.