Have you heard about a federal debt relief grant or national debt relief program on television, in the print or on the web? So is the government actually providing assistance to bail out personal credit card debt?
With the economy being what it is,
you will find plenty of these types of commercials. You may also find
information on the internet attesting to the availability of debt
relief money from the government. They even cite examples of how people have used federal grants to
erase thousands of dollars of personal credit card debt.
What you may not likely find in those articles is a link pointing to the exact location of a grant on an official government website. Because, in reality, it is not there.
is NO national debt relief grant that helps you pay off off credit card balances.
So, what are all those commercials referencing? Most likely they are referring to private debt settlement or consolidation companies with misleading names and dubious intentions.
This underscores the importance of thoroughly researching any company you considering doing business with. Doing your research is especially critical when an entity promises easy, quick-fix solutions, promotes the availability of debt payment grants, or touts the capability to eliminate thousands of dollars of personal
credit card debt.
So is there no debt relief assistance available from the government for people facing financial hardships?
Well, the good news is, there is help. Typically, a grant is "gift" money that does not need to be paid back. Grants are not available to help you pay off credit card debt.
Though, there are many directed grants available to qualifying nonprofit entities, small businesses, state and local governments, and other organizations.
Yet there is financial assistance for consumers in the form of low-interest loans, including mortgages, and debt management services that are quite beneficial to individuals who qualify.
Examples of government debt assistance includes counseling services, federal student loans and mortgages, laid-off worker assistance, and other programs. In addition, the government provides a broad array of educational information and services to help you learn about debt management solutions.
For a list of agencies and contacts that offer free debt resources, click here: Free Credit Card Debt Help. In addition, visit the following federal government websites for more information about what assistance is currently available.