Debt is a widespread problem in the U.S these days. Statistics reveal that an average family in the U.S, has a burden of almost $4000 over them. Enrollment in debt consolidation as well as settlement programs are increasing. Things are getting worse for common people as the cost of living is soaring in the post-recession period. In a tough time like this, assistance from government funds and other non-profit communities can come to your rescue. How can the these grants and programs help you to deal with debt? Let’s discuss.
Various community organizations are out there to help people in financial crisis. If you have a low income then a lot of community financial assistance programs can help you to pay electric or water bills for cheap. A sum of $150 is offered for a family annually in case you ask for their aid. You can know about different programs offered by the communities by calling the respective organizations. Visit cfda.gov to find out the programs that are being offered by the communities.
The department of housing and urban development (HUD) in the United States helps people regarding housing problems. They would consider your situation and offer various kinds of assistance. HUD may help you to clear your mortgage or pay back rents. They can also shift you to a housing unit with a minimum or even no rent.
Federal funds are sometimes available for low income people. But the amount varies from year to year. It essentially depends on the priorities of the government in that particular year. You should be aware that this grant won’t reach you directly. The federal government usually gives the money to some non-profit organization which in turn helps people who need assistance. Clearly, you need to find out these non-profit organizations. The instances of this kind of assistance include fixing up a house for resale in order to evade foreclosure.
Huge medical bills at short notice often put people in financial trouble. But many NGOs and other foundations often help people in dealing with medical debt. You can contact the hospital authorities (when you need to) to know more about this kind of assistance.
These grants will certainly help you to get back at your feet. Nonetheless, they are essentially aimed at assisting you to meet your basic needs like living and education. These grants won’t help you to pay off your credit card debt. So plan accordingly.