In the recent time most American citizens are living with the burden of debt on their shoulder. Unfortunately in line with the recent financial crisis in the states, prices for necessities go up and debts, in most of the case, become accumulated uncontrollably until it’s impossible to pay for most citizens. When you reach such condition you can only expect the government aid such as debt relief grants from the government to bail you out from such situation, like they bailed out the big corporations through the financial crisis.
Words and information spread all over the internet about the debt relief grants from the government. However is it any true on that? Does the government really grant debt relief freely for its citizens like that? Here we will provide you the truth about debt relief grants from the government and detailed information on how to ease yourselves through the debt debacle. Sit tight.
Firstly about the reality of government’s debt relief grant we are very sorry to inform you that it’s just a fairytale with no real validity at all. Government does not offering any debt relief grant for free so if you find any websites offering information about “free debt relief” it’s probably contains misleading information with the purpose to get money from the sites’ visitors.
While the debt relief grants from the government are unlikely to exist there are still ways to ease you through the debt debacle such as:
- Credit consultation service to assist families in debt
- Medical debt government assistance
- Tax rebate checks
- Debt consolidation
Now we will discuss in details on how to get debt consolidation, for this process all you are going to need are your debt statement, lender contact information and debt counseling agency contact information. Here are the detailed steps:
- List all of your debt to find out how much you actually owe.
- Look for advice from a reputable debt counseling agency. You can get help dealing with your debt with no fees for initial consultation and very low fees for later consultations. By visiting debt counseling agency you can ease your debt by negotiating payments and interest rate, waiving over-the limit fees and stop collection calls.
- Provide your debt counselor with your financial information to enable them helping on your debt such as balance owed, interest rates, creditor names and minimum payments as well as your complete expense and income information.
- Participate in a debt management plan or commonly called as DMP. This program will help you deal with the debt full payment by reducing the payment burden significantly. This program only requires you to pay small fees and will help you through all the payment process. However if you think that you can’t afford to participate in the DMP program you can turn to the last resort solution such as debt settlement and Bankruptcy protections. These options are not debt relief grants from the government and will damage your credit severely but it can be recovered with some extra effort.
- Images: retroradio.hu, finanse.egospodarka.pl
- National Foundation for Credit Counseling: Credit Counseling. nfcc.org/CreditCounseling/faq.cfm#a
- Consolidated Credit: Credit Counseling Services. consolidatedcredit.org/credit-counseling/
- Green Path: Credit Counseling. greenpath.com/