No, there is not a new US law that pays off $15,000 in credit card debts | Fact check
The claim: New law cancels $15,000 of debt for Americans
[En Español: No, no hay una nueva ley que cancele $15,000 en deudas de tarjetas de crédito]
A Jan. 4 Facebook video (direct link, archive link) promotes a supposed new law that will help Americans pay off up to $15,000 in debt.
"New forgiveness law eliminates up to $15,000 from credit cards for all Americans," the narrator says in Spanish. "The program ends today at 8 p.m., so you'll have to act fast before it ends."
The Facebook post was shared more than 100 times in 12 days.
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Our rating: False
There is no evidence of a new law eliminating up to $15,000 of debt for Americans. The post directs users to a for-profit company.
No new law helps Americans cut credit card debt
There are no credible news or government reports about any such law or program. A link in the post leads readers to a private debt relief company in Florida – not to a government website.
While the government isn't paying off credit card debt, over the last several years several programs have given Americans extra cash or a break on costs.
Three stimulus checks followed the outbreak of COVID-19, with the last one in March 2021 giving eligible households $1,400 for each taxpayer and dependent.
The Inflation Reduction Act of 2022 capped prescription costs for Medicare recipients and cut home energy costs.
Last week, the Department of Education announced it's speeding up its Saving on a Valuable Education program, which cancels up to $12,000 of student loan debt for qualifying people who have been in repayment for at least 10 years.
Fact check: Student loan forgiveness, ending payroll tax not part of Trump's 2024 plan
USA TODAY reached out to the user who shared the post for comment but did not immediately receive a response.
PolitiFact and Factchequeado also debunked similar claims.
Our fact-check sources:
USA TODAY, March 17, 2021, All of the COVID-19 stimulus bills, visualized
USA TODAY, Jan. 12, 2024, Education Department speeds up relief for some student loan Borrowers on income-based plan
White House, accessed Jan. 17, American Rescue Plan
CNN, March 10, 2021, Here’s what’s in the COVID relief package
Congress.gov, Aug. 16, 2022, H.R.5376 - Inflation Reduction Act of 2022
Studentaid.gov, accessed Jan. 17, The Saving on a Valuable Education (SAVE) Plan Offers Lower Monthly Loan Payments
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This article originally appeared on USA TODAY: Video wrongly claims US granting $15,000 to pay debts | Fact check
