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Are the Government Grants for Debt Consolidation Available?
- How to differentiate real government grant from scam
- Where to find grants that get me out of debt
Government grants to pay your consolidated loans sound like an excellent deal to many troubled borrowers. The main attraction is that it seems like a free and easy option to get out of huge unsecured debt. The problem is that there is no ‘free cheese’ in this world and there is always some type of trade-off for something that you would think come for free.
There are no free grants to get out of debt as such in the pure meaning of free in this context. Grant by itself incorporates the meaning of receive money without a need to repay. So when the word ‘free’ comes in, it is more often than not some illegitimate companies trying to trick you down. In the economic crisis there is a huge need to reduce debts for many borrowers who cannot pay what they are obliged to pay under terms and conditions of their unsecured debts. Needless to say, that on the other side of supply chain there are many companies that provide the solution such as government grants, that often is the way to trick distressed borrower in some extra spending and troubles.
Despite the huge availability scam in the grant market in United States, there are legitimate ways of how to get out of debt with government grants. It is usually the city, federal organisations and other government related parties who issue the grants. One way to find out what type of grants can get me out of debt if I am distressed borrower is to enquire from your local state offices that are focusing on economic development in your region and would have information on different grants available.
Another option is to enquire at any federal entity or even library. The issue here is that the grants do not target the borrowers who have problems with personal debt. In other words, grants usually target people who would require help with buying first home, money for study or research. It would very complicated, if not impossible, to find grant for consolidating personal unsecured debts.
A variety of grants to get out of debt are available through official website such as www.grants.gov that contain lots of information on different grants available, information on variety of government supported agencies that specialise in provision of governmental grants to American population. The grants can be searched by categories such as employment, training and labour, health, environment, housing, etc.
You would not find loans for personal debt consolidation. If you have been approached by the agency providing you with such service, be very cautious as it is very likely to be a scam agency tying to trick you into debt settlement for which it would charge high fees. This is not grants to get out of debt which you would like to get involved into. It is very easy to differentiate whether the calling agency is a scam. The main rule is to ask questions and not to give out any personal information. Usually, after such tactic calling agency becomes abusive or hangs up. The main rule is investigate before getting involved in any type of agreement especially if it promises you free grants to get out of debt.