When it comes to getting out of debt, legitimate government grants for debt relief are a tempting option. However, it’s important to be realistic about this possibility. Both private grant opportunities and government ones exist to further the work of non-profit organizations, to help establish and support small businesses, and to patronize the arts. Very few exist simply as a handout to individuals.
Keep in mind that if free government grants drp for debt relief existed for all who wanted them, nobody in America would still be in debt. That being said, there is some grant money awarded to individuals, and you can certainly look into those by browsing the grants.gov website, and using the search parameters to narrow results to this category.
In addition, you can be creative about turning grant awards into a very real — and legitimate — way for you to get out of debt as an individual. For example, you could write a grant proposal to acquire funding for an after-school program for disadvantaged kids and use part of the grant money to pay for the instructor, who could be yourself, assuming you are qualified and paid a reasonable salary for the work. This would be a round-about way of getting government grants for debt relief — simply use your salary toward your debts.
Instead of true government grants for debt relief, you may be looking for financial assistance through your mortgage company or credit-card-issuing bank made possible by taxpayer funds. Reducing your interest rate or renegotiating the terms of a loan can mean a huge difference in your ability to repay the loan and get out of debt. Find out what programs are available to you based on your particular situation and loan status.
As you work on the process of getting debt relief, renegotiating a lower interest rate or restructuring the terms of a mortgage through available programs may be one of the best options for you. Be creative in your search to find the money you need to reach your goals.