Due to the current economic hardships, a vast majority of Americans are going through stressful financial situations. To a large degree, this situation rings to true to individuals who have existent debts that might include credit card debts, student loans and hospital bills. Once you have established that you need help, it is advisable to weigh which government consolidation suit you best. To do this, you must choose those programs you are eligible for and consequently apply for the same.By setting aside billions of dollars, president Obama has ensured that different debt consolidation programs are able to help the average citizen improve on their finances. Though this money is already available, majority of Americans are not aware of the same and yet the stimulus plan is geared towards ensuring that the debts owed by a vast majority of its citizens is considerably lowered. By reducing your debts, it becomes possible to pay your debts the possibility of defaulting on payments is lowered and as such, it creates an ideal situation not only for you but also for your creditors.By opting for a government consolidation plan you enjoy a couple of benefits. For starters, the interest rates are lowered monthly payments are chopped into manageable sizes. In addition to this, it is important to note that you will have one monthly payment to make while ensuring that the overall debt is reduced. To top it all, with a government consolidation program, you do not have to put up collateral.The first thing you have to do to meet this end is find programs that will consider you as an eligible candidate and calculate how much you will be able to save on a monthly basis. You should note that this can be carried out online, is free and does not take too much of your time. Alternatively, if you do not a clue on what could work well for you, then you should consider consulting with a debt relief agent. This is free and at the end of it, you will be in a position to select the most viable route for eliminating your debt.