Debt Management Program Advisor

Robert

Unless you are a major bank or automaker, there are no grants available to help you pay off your debts. You have to pay back what you owe.

Suzanne

There are no grants for personal debt.

Douglas

The government is NOT in the business of giving away free money for the sake of giving away money. There are no grants for paying bills, no grants for paying off credit cards, no grants for getting out of debt and no grants for simply fattening your wallet.

Grants are free, but it means OBLIGATION. You will be obligated to do as the grant sets out to do. Grants have objectives, and your purpose must fit the objective of the grant.

For one, you have to write the grant application and the grant application is not a simple document – you have to explain how your purpose for applying for the grant fits well with the objectives set out by the grant.

There is a stringent review process through a committee. You will compete with other applicants for the grant money, and this grant review committee will evaluate the merits of each proposal. Only those that they feel exemplifies the objective of the grant will be approved.

You can go to the Catalog of Federal Domestic Assistance (CFDA) and Grants.gov – these are two sites created by the federal government to provide transparency and information on grants. Browse through the listings and see if you can find any grant that would support your purposes.

Even if you buy books on “how to get grants” or list that supposedly has information on grants — all of them are mere rehash of what CFDA has, albeit packaged differently.

Note though that these grants generally support non-profit organizations, intermediary lending institutions, and state and local governments. Most of the federal grants are given to specific target groups with specific requirements (e.g. minority business owners involved in transportation related contracts emanating from DOT – Grant#20.905 Disadvantaged Business Enterprises Short Term Lending Program. Individuals especially for personal purposes are not eligible for federal grants.

Grants are also often given to non profit groups or organizations involved in training or other similar activities (grant 59.043 Women’s Business Ownership Assistance that are given to those who will create women’s business center that will train women entrepreneurs

Elaine

in most cases the only way to pay off your debt is to pay it off or you can settle you debt for more than half of what you owe it depends of how long you have had the debt and when was the last payment i went through this company and my credit score went up 60points so far using the credit trx program i hope this will help you to Good Luck!

Beatrice

The settlement of unpaid debts are always a good thing, however I am unaware of a Credit Card debt grant being available to individuals at this time.

Randall

There is no such thing as a grant to pay off debts for individuals.

A debt settlement does impact your credit score in big way and choosing between a charge-off or settlement is not the best option. And for the record, a charge-off doesn’t mean the debt goes away either. It just means the lender has moved it to the bad debt column rather than an asset. Technically, you can get a double whammy on your credit report if a debt gets charged-off, then you do a debt settlement.

Buckle down and do all that you can to pay off your debts. If there was an easy way out with no consequences, everyone would do it and the lenders would go out of business lending out money that never gets paid back.