Debt relief grants are one of many solution options sought by millions of people in the U.S. who are struggle under the burden of heavy debt. If you are one of those people knowing how to get out from under the burden of debt is an important thing, and there are many ways that the government can help you do so.
The federal government actually has a number of debt relief options that you can research, and getting government help to get yourself out of debt is a viable option for many people around the country. There are a number of grants and assistance programs for those in debt, and it is important for people to know about these programs to know what their debt relief options are.
Credit Card Debt Relief Grants
There are many articles and advertisements that claim that the government has a number of grants and assistance programs for people who struggle under debt, but beware as these claims are often fraudulent.
The government does not have a debt relief plan for those who have credit card debts, and there are no programs to help you out of debt. While the government does help low-income families with assistance to afford the day-to-day necessities, there is no government grant to help you out of credit card debt.
Student Loan Consolidation
For those who have taken out federal student loans, there is a way for the government to help you consolidate your debt. There is some debt relief options granted by the government for those who have taken out federal student loans, but anyone who has taken out a private student loan is not covered by these government assistance programs.
Mortgage Debt Relief
Thanks to the housing crisis of a few years ago, the government has established an assistance program to help those with mortgage debt. This program is designed to help homeowners avoid foreclosure on their houses due to their inability to cover their mortgage debt.
Making Home Affordable
The MHA (Making Home Affordable) program was created by the Obama administration, and this program helps people to refinance their houses through the HARP (Home Affordable Refinancing Program) as well as modifying their mortgages using the HAMP (Home Affordable Mortgage Program). These programs help homeowners with liens and third mortgages, and many people around the country are eligible for this program.
Home Affordable Foreclosure Alternatives
For those who were eligible for the HAMP program but were unable to make payments, don’t qualify for a Trial Period Plan, don’t complete the Trial Period Plan, or ask a deed-in-lieu or a short sale, there is the HAFA (Home Affordable Foreclosure Alternatives) program to help streamline the foreclosure process.
All of the above “debt relief grants” and assistance programs are established by the government to help individuals manage debt. It can be hard to find your way out of debt but the debt relief options from the government are valid ways to consider using to help yourself get out of debt.