Government Loans to Pay Off Debt-Scams?
Get out of debt grants and loans for single mothers – a scam or for real?
I am sure you must have bumped into the “Government Grants For Debt Relief” articles if you have been looking for ways to collect some money to pay off the debt. After reading quite a number of those articles myself, I finally decided that it is time i did one on the same and post the truth about the government loans for paying off debts.So here it is – “there are no government grants that help individuals or families to get out of the debts!” End of story.
“But i thought billions of dollars are set aside as free grant money each year..”
Well, of course, government sets aside huge amount of money to be given as grants and through the other assistance programs to the people in need. But that does not mean there are grants or programs that help with paying off the credit card debt or the loans or the mortgage. These grants come in the form of educational grants for those who show great financial need and are also given as the business grants for specific kinds of businesses. Again, if you are wondering whether business grants are available for individuals, no, they are not. To get more details on the same,you can read my post i did a while ago over here: grants for small businesses in USA.
There are good ways to deal with the debt:
I know it must be disappointing for many to learn the truth that there are no federal or the state grants for debt elimination or consolidation. But do not lose heart and hope. One thing that i certainly recommend is talking to a debt counselor.And above all, keep in mind that going over all the monthly expenses you have right now and cutting down what you do not “need” will go a long way in saving up some money which you can later use to pay the creditor. I know that provokes a “duh” but the thing is many actually overlook the importance of saving every little dime when they can.
Now that you have learned about the government loans to pay off debts, why not go over to some of my other articles that talk about getting assistance for living expenses. As every expense cut down means more bucks in the savings, it could eventually become enough to pay off at least a major part of the debts and thus, saving your credit score from getting hit hardest. Here you go:
1. My post on thegrants for living expenses
2. Pplaces where you can apply for personal government grants
3. If you are a single mom facing trouble with paying the day care costs, you must read the post on free and subsidized child care. Especially if you have been receiving no child support whatsoever so far, the day care assistance will be of tremendous help.