Are There Government Grants To Get Out Of Debt?

getting.even
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Posted on July 17, 2009 at 12:48 am

okay here's a little back story

i have lost my job and currently owe a big amount of money that i can hardly afford. i'm in the verge o f being kicked out from the place i'm renting. my girlfriend just left me to go to mexico and she left me with all the cards we applied for. i dont know what to. im scraping the bottom of the barrell at this point in time and i am desperate for any way to pay everything off because i know its my responsibility as a man to owe up my mistakes. so i just want to know if government grants to pay off my debts are available, because i am in a tight spot and need help.

EdwardScissorhands (Guest)
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Posted on July 17, 2009 at 2:55 am

Is that such a good idea? i do not think so. I mean getting a loan to pay off another loan will add up your troubles and not allow you to make any progress on wiping out ALL your debts.

Purple Cow
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Posted on July 17, 2009 at 4:10 am

As far as I know the government does not issue grants or "free money" specifically for the purpose of paying for debts. The federal money does give away particular amounts of money for specific causes, and if these people wish to use it for the purposes intended. For example, you could apply for a government grant to put up a small business, or make some home repairs. In other words, the money is given in order for the grantee to achieve a particular goal.

caffeinatrix
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Posted on July 17, 2009 at 4:29 am

Edward Scissorhands, those grants are actually given away for free--given that it is a grant, one is not expected to pay for it. Maybe you were thinking about government loans. Those are different.

Karess
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moderator

Posted on July 17, 2009 at 4:55 am

In using government grants to pay off debt, you can actually be creative with the funds that you receive.Of course, you need to see which grant that you can qualify for, and enroll for that specific grant. Just like the previous example, you can apply for a small business grant, and in turn you'll be putting up a small business, then use the generated income from there to pay off your debts. You don't need to worry abt paying for anything back, anyway. Government grants may not be much help in clearing your debt per se, but you can use it as a springboard to pay everything off.

say it isn't so
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Posted on September 8, 2009 at 6:38 am

Government grants to get out of debt? I think there's non for personal/consumer debt..but it depends on your actual situation maybe something's in here for you: http://www.usa.gov/

sad (Guest)
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Posted on September 14, 2009 at 2:16 am

well you can use these to pay off your debt for free

Purple Cow
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Posted on September 14, 2009 at 3:06 am

Not really. There aren't government grants that are specifically created for the purpose of reducing or eliminating debt.

RG (Guest)
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Posted on September 14, 2009 at 3:11 am

But is getting a loan from the government or any other institution a good idea? What do you think?

Lally (Guest)
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Posted on September 14, 2009 at 3:20 am

No cos that will give you more debt that you can manage