You surely are wondering what the truth is, and whether there is such a thing as debt relief grants from government. You may have heard that the US government will pay to get individuals out of debt. Sadly, that is far from the truth. However, there may be other ways that the government can help you financially.
Grants
The fed will not give you money just because you are in debt, but you may qualify for a financial grant for other purposes. That would help you out financially, but these are really exceptional cases.
Of the 26 different government grant making agencies, some of these are set up to make grants for community projects, for example. It could be in the arts or community development. Others are research grants, for hospitals or doctors carrying out research into health and disease. However, some grants are available to individuals.
You have to be in certain situations to qualify for these grants. For example, there is disaster prevention and relief which helps people who have lived through disasters such as hurricanes or fires. Other grants may be available for housing or for developing your small business if you have one. You can see the grants available at www.grants.gov
As you can see then, these examples are not available for the general public.
Loans
What might help you more, is a government loan program. While this will not get you out of debt, if you qualify you could get a loan at a much better rate of interest than you would pay with most credit cards or commercial loan companies. The interest you save with the lower rates, could significantly help you pay down your loan that much faster.
But remember, these are usually for specific purposes such as business, housing and education (student loans).
Some of the government loans are administered through banks. So if you are asking your bank about a loan, it is always worth enquiring whether they have any government loans that you might be entitled to. You can find information about these loans at http//www.govloans.gov
Debt Relief Agencies
There are many debt relief agencies that are not associated with the federal or state government. They may have a name that makes you think they are a government agency. Be cautious in dealing with any of these. Some of them are reputable agencies but others may be trying to deceive you.
You can be fairly sure that if a website ends in .gov, it is a government website. If it ends in .com or anything else, it is probably not. If you are in doubt, check the terms of the website or ask them.
If an agency charges you a fee for finding you a grant or helping you get out of debt, it is a sign that you are probably just dealing with a commercial debt counselor or debt relief agency. They may be able to help you reduce your debts but will surely charge you something for their time. You have to decide if this is likely to save you money overall.
Sometimes a company may advertise that they have ‘government debt relief’ available. What they will usually offer you is advice on declaring bankruptcy. This process may be regulated by the federal government but it is not a grant. For most people there are better ways of getting out of debt than bankruptcy.
While it’s sometimes bad news, you’re better off knowing the truth regarding the options available to you. Let’s face it, there is really no such a thing as government debt relief grants. Anyone saying otherwise is either uninformed, or trying to decieve you.
Needless to say, the best remedy for your debt problems is to just simply stop over-spending. I went through bankruptcy and had a very hard time adjusting to spending only for essentials.
When I lost it all, ten years ago, I had no help at all. Today however, there are books that can help you better manage your debt relief.
One such product “Debt Cures” is available in written and MP3 format, that’s how popular author Kevin Trudeau is. You can find it at Amazon.
Enjoy your purchase, for you’ll surely benefit greatly from reading this insightful product.
Fred Farah
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