Grants for Debt Relief

In order to help the economy of the United States, President Obama created programs that will lift the economy. There is the Bail out plans, the Stimulus grants and so on. Many people then believe that they can get free money from the federal government through these programs. Unfortunately, that is not the case because these programs are intended to help the economy in general, but not the individuals who are suffering from financial problems. In other words, if you are looking for grants to use for debt relief, you will not find it in the government or even any private organizations.

Many people are also suffering from the problem caused by debts and thus, they are looking for ways to be relieved from it. Through debt relief, they can partially or totally stop the growth of their debt. However in order to stop the growth of debts, it is necessary to make payments for it.

The federal government does not give any free money to those needing debt reliefs. Instead, the federal government gives grants to non-for-profit organizations working to offer debt relief services. Therefore, for the people looking for debt relief, they should consult organizations handling debt relief.

The following are the programs intended for debt relief that are mostly given organizations:

  • American Recovery Act
  • EDA Recovery Act Funding
  • Minority Business Enterprise Center
  • Aging Citizens and Minorities

Take note that these programs are not for individuals to apply. Non-profit organization with advocacies that will help less privileged people to get support from debts can apply to these programs. They can ask the state or local government about these programs and how to apply. For individuals seeking free money, the organization will be the source of it. Typically, the cash grants awarded to non-profit organization are being used for services such as counselling about debt relief.

An example of non-profit organization working to give support and assistance to individuals looking for debt relief is the National Foundation for Credit Counselling. This foundation, the NFCC, works by giving assistance to the people in need of credit relief. The assistance is not monetary however, but by counselling through email, phone or personal talk. The foundation will show options and solutions in order to stop the growth of the debt. To get their assistance, call the NFCC through phone at (202) 677 – 4300 or visit nfcc.org.

NFCC 2000 M St.
NW Suite 505,
Washington, DC 20036

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