CHARLOTTE, N.C. -- Certain debt-ridden customers could get a bailout of sorts from their lenders if the federal government allows lenders to begin a pilot program to forgive some credit card debt.

An alliance of consumer advocates and lenders has asked for a rule change to begin the program.

As representatives for major lenders including Bank of America and Wachovia, Financial Services Roundtable partnered with consumer group Consumer Federation of America with a letter to U.S. Comptroller of the Currency John Dugan. Those groups want permission for lenders to forgive up to 40 percent of debt for customers who’d qualify.

Scott Talbott of the Financial Services Roundtable says it’s what’s best for the greater economy. “Current credit card debt in America is $900 billion,” Talbott told NewsChannel 36. “Americans are struggling to pay their credit card bills and so the industry is trying to find a way, and we've asked the government for permission to do this, trying to find a way to help with that burden.”

Talbott explains this is good for banks too, because in many cases, they can’t get any of the money owed when customers default.

The proposed plan would forgive debt -- the amount would depend on the customer's situation --and the remaining balance would have to be paid over five years. Currently, debt repayment plans with credit card companies require repayment within months.

The idea, for now, is an idea. This partnership needs government approval, and even then, they’d begin with a pilot program. Customers would have to qualify. Likely, that would mean being recommended by a credit counselor.

In return, banks are asking for permission to delay the reporting of the losses associated with this plan for tax purposes. Talbott says most major lenders are interested in the idea.