When the economy was thriving it seemed like there was a great new credit card offer in the mailbox every week. Many of us couldn’t resist the temptation of growing our spending power and living a little bit further beyond our means. Now the economy is not so hot and those credit card bills are catching up to us, especially those who have lost their jobs, had shifts cut, and are only making enough to make it by month to month. If you are just barely making ends meet while drowning in credit card debt, medical bills, or other debt, you definitely will want to learn the facts on Government sponsored debt relief programs.Government aid in debt consolidation has received millions of dollars in additional funding this year, and is expected to receive even more federal funding in 2011. Government debt consolidation programs work by eliminating your high interest debts and replacing them with one low interest loan, with a single monthly payment that is custom tailored to suit your personal financial situation. It’s win-win for the entire US economy as the creditors get their loans paid off by the government and you benefit by receiving lower interest rates, lower monthly payments, and protect your credit score.Along with government sponsored debt relief programs, there are also many great privately owned consolidation lenders who offer equally helpful debt relief programs. The easiest way to determine which of these programs is best for your financial needs is to request a free quote online. This can be done on one of several debt consultation websites online, and will give you a better insight into exactly which programs are available to you, and how much you can save with a debt consolidation loan.