Allow people to pay off high interest debt with a Federal Loan that charges a flat interest fee (5%). While citizens are in this program, their credit is locked for new loans other than house or car loans. No tax refunds until debt is paid off.
Too big to fail companies and Banks get bailed out, why not allow citizens to reset their debt/credit. This would allow us to help citizens while making a little bit for the country. It is a win/win situation. Why let the credit card companies make billions and charge huge interest rates.