About Government Debt Relief Grants

February 11, 2009 by  
Filed under Debt

A lot of false information has been circulation nowadays involving government debt relief grants. Some people seem to hold a belief that the government is willing to pay for individuals to get out of debt. Sadly, this is not the case. But even though ths is not true, there may be other ways in which the government may provide financial aid to help you get out of debt.

Because you are in debt, the federal government will not be willing to give you money, but they may grant you a grant for other things, which could help you officially.

All in all, twenty-six different government grant-making agencies exist to this day. Many of them are capable of offering grants for several community projects involved in community development or the arts. Other ones may be research grants for doctors to research on disease and health for hospital, while some are given to normal individuals.

In order to qualify for a grant, however, you have to be in a particular position. For instance, disaster relief and prevention exists that can help people survive through natural disasters like fires or hurricanes. There are also grants available for housing and developing small businesses if you currently have one. The grants available can be seen at www.grants.gov

Another thing that exists is a government debt loans program. This may not help you get out of debt, but if you at qualify for this, you will receive a better rate of interest compared to what you pay with most commercial debt loan companies or credit cards. But again, these are only granted to those with certain purposes like housing, business and educational student loans.

A lot of government debt loans are administered through banks. So if you plan on asking the bank about a debt loan, it is essential to know whether there are government debt loans available that you can avail of. To find more information on these debt loans, visit www.govloans.gov

There are also various debt relief agencies available that have absolutely nothing to do with the state or federal government, but may have names that sound like real government agencies. Be very careful if you end up dealing with one of these. Some are very reputable agencies, but some may just be out there to deceive you.

You can be quite certain that if a website ends with .gov, it is strictly an actual government website. If it ends in .com or something else, it may not be. In case of doubt, check out the terms found on the website or simply ask them point-blank.

If an agency starts to charge you fees for a grant with the promise of helping you get out of debt, this is probably a debt relief agency or commercial debt counselor. Although they may be a great help in debt reduction, they may also charge you money for their help. You will need to figure out if this will save you or cost you more money in the long run and then work from there.

Occasionally, companies may advertise about available government debt relief. These offers usually tell you not to declaring bankruptcy. The process may be regulated by the federal government, but this is not a grant. Most people find a lot of better solutions to get out of debt rather than declaring bankruptcy.

Whether the outcome is good or bad, it is always best to know the truth about available options for you. Government debt relief grants simply do not exist.