Obama Credit Card Debt Bailout

President Obama has requested a bill preventing credit card companies from preying on borrowers who have lots of debt.  Some would consider this the Obama credit card bailout that many have waited for.  Most likely the Obama credit card debt bailout plan will be a series of new regulations that may affect a credit card companies ability to raise interest rages, charge credit card fees and may also affect debt collection efforts by the credit card companies.  This Obama credit card bailout may be called the Credit Card Holders Bill Of Rights designed to help borrowers pay their credit cards but also have money for their mortgage, insurance and other debt like car loans.  Most likely borrowers will not have to apply for the Obama credit card bailout, it will likely be written into regulations vs. an actual cash bailout that lowers the debt of borrowers.  It may also be that credit card companies will be given an incentive to work with those in debt maybe in the form of tax incentives.  When the Obama credit card bailout is finally law it will help many Americans needing debt relief.