Can the government help me get out of debt?

There is no government program that forgives or even minimizes the burden of paying off your credit card balances. There are, however, 501(c)3 nonprofit consumer credit counseling services that work with you to provide debt relief. These agencies are funded through grants from credit card companies.

Are there programs to help pay off debt?

There are two main types of debt assistance programs: Debt reduction service – These types of debt assistance programs negotiate with creditors to try to get them to accept a “settlement” to reduce the total amount of your debt. This type of debt consolidation is preferable to taking out a loan to pay your debts.

What is the federal debt relief program?

National Debt Relief is a debt settlement company that negotiates on behalf of consumers to lower their debt amounts with creditors. Consumers who complete its debt settlement program reduce their enrolled debt by 30% after its fees, according to the company.

How do I get free government money?

How to Get Free Money from the Government 1. Childcare grants 2. Utility bill grants 3. College grants 4. Unclaimed money 5. Environmental protection agency grants 6. Winterizing grants 7. Damaged bills 8. Department of Labor assistance

How does the government help debt?

Government Debt Forgiveness Programs. The federal government does sponsor debt forgiveness for select obligations – the ones they have direct control over such as student loans and tax obligations. A handful of agencies and programs provide indirect assistance with the credit card, mortgage, and medical balances.

What are free government grants?

Free Personal grants from the government include a wide variety of grants that include all of these needs. These grants are available for emergency or long-term funding to get you back on your feet. There is no limit to the amount of personal grants that you can apply for, nor how much you will be awarded.

How do you get free loan?

A: In order to apply for an interest free loan, you should first start by submitting your FAFSA form. This will generate results of what is available to you in terms of grants, scholarship and financial aid. If there is a shortfall in the funding available, you should then consider taking out a loan.