The Debt Relief Bill, also known as the Bipartisan Budget Act of 2018, is a bill that was enacted in March of this year. The purpose of the bill is to help reduce the national debt. The bill includes several measures that are intended to help reduce the national debt. You can navigate to https://ldsolutions.co.za/debt-relief/ to get to know more about debt relief bills in South Africa.
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The Debt Relief Bill also contains other provisions that are intended to improve economic conditions. For example, one provision expands access to apprenticeship programs so that more Americans can gain skills needed for jobs in today's economy. Another provision makes it easier for businesses to obtain loans from banks and provides tax relief for companies that create jobs.
The Debt Relief Bill, which was recently passed by the House of Representatives and is now pending in the Senate, includes a number of important provisions that could help people affected by debt. Among these are:
-Debtors who have filed for bankruptcy within the past year will be eligible for relief.
-Debtors who have been unemployed for more than 60 days in any consecutive 12-month period will also be eligible for relief.
-Debtors with student loans will be able to have those loans discharged if they meet certain criteria, such as having made payments on them for at least five years or being in default on them for less than nine months.
-The bill provides a three-month window during which borrowers can apply to have their federal student loans consolidated into a single loan with lower interest rates.