Debt relief grants for single moms
Single mothers who have just started out on supporting themselves and their kids after divorce might be overwhelmed at first. The situation might even transform into a crisis if you are flooded with debts soon after moving out. It would not be unwise to say that facing debts goes hand in hand with getting into more debt. Anyone who is already knee deep in debts is advised to stay away from loans, especially the cash advance.
What really can provide debt relief to a single mother?
The government recognizes problems faced by low income families, particularly single mothers, and has set aside a large sum of money to be given as grants and cash assistance. But do keep in mind that this is not just available for single mothers. Any family deemed in need of assistance will be able to apply for them. The government assists those who have extreme financial need and are able to demonstrate the same with documentation. Just imagine what these grants can do for you at a time of crisis. They will get you out of the debt and will act as the light at the end of a dark tunnel. When you were beginning to think the crisis in your life shows no signs of going away, these grants will be the very hand that could help you get up and get back on the track. Needless to say, they can save your credit score from falling into the pits by avoiding bankruptcy.
The procedure to avail the grants:
Having discussed how the government has taken steps to help the needy families and what it takes to apply for them, it is time to educate you about finding this particular assistance and getting aid. Searching for debt relief grants will not be fruitful, for the help is not available in the name of “debt relief grants”. Rather, you will find that help is offered to low income families via several financial assistance programs administered by various agencies. To gain a deeper look into what is available and which programs will assist you, we suggest that you pay a visit to the Department of social services in your local area. As an alternative, you can visit the official DHS web page of your state government and obtain details. As a multitude of programs have been introduced and getting administered every year, you will find it confusing to go over all the requirements, and determine which one you qualify for. On the other hand, the welfare case worker at the DHS will be able to guide you through everything, and make the process faster and hassle-free.
Be wary of the government debt relief programs:
Single moms coming across the government debt relief programs are advised to exercise caution and diligence. Government does not spend the taxpayers’ money towards others’ debt repayment. But they certainly offer financial assistance to families in crisis and families meeting a specific criteria. Such assistance acts as significant aid to single moms who are distressed financially.
Keep an eye on your credit score:
While cutting down debt is most important, ensuring your credit score does not dip too much must be one of your priorities as well. Resorting to the debt settlement programs might seem like the answer you are looking for, but truth be told, such programs have hurt many a debtor’s credit score. Debt management program, although not as appealing as debt settlement to many, is a far better option as it focuses on lowering the interest rates and payment. As for choosing a company for debt management, prefer one which is a member of National Foundation of Credit Counseling – NFCC. As NFCC regards only those companies that meet their strict standards as their members, opting for a NFCC member agency is always a wise choice.