The amount of debt that can hang over an individuals head can be overwhelming. Government debt relief grants can help alleviate the burden of carrying too many bills for one person to handle by providing financial aid.
It’s not unusual for a person to experience a sting of bad luck that can cause their finances to go upside down. Medical bills, outrageous college tuition, business expenses… these things can hurt an individual and family bad, and at times it may seem there are no options available.
Government debt relief grants are similar to loans, only the money never has to be paid back. Think of it as a scholarship for college, only the funds can be used for your personal expenses and to pay off your bills. While each grant program has specific terms that must be followed, there are various funding options that can help individuals clear their debt without affecting their credit score.
How much is available?
Overall, there is over $800 billion in free grant money that is given away every year. This does not fully take into account the number of private foundations and non-profit grants that also contribute money. It is not unusual for a person who applies to receive a debt relief grant to obtain as much as $20,000.
That’s money that can may not entirely pay off all of your bills, but any amount that can help reduce these payments can help focus on a real plan that will work. Otherwise, people are either left filing for bankruptcy and destroying their credit, or making minimum payments that don’t allow for any real progress.