Are You Aware of The Different Types of Debt Settlement Grants Introduced by The Federal Government?

In this tough economic situation, most of the debt stricken consumers can’t control the distressful financial situation. As a result, the consumer debt is incessantly mounting. The government introduced the program but it’s available to people who’re in dire need of financial assistance. The federal government provides assistance for certain types of debts like mortgage and student loans. If you find any agency that claim to help you obtain federal grants for debt settlement, then beware of these scam agencies. You may not be able to obtain grants to settle your credit card debts. However, if you’re eligible for the grant, you can use the money to pay off your debts. In case you’re unaware of the different types of debt relief grants, then you can check the government grants available for you. Different Types of Debt Settlement Grants Are You Aware of The Different Types of Debt Settlement Grants Introduced by The Federal Government?

Here are three types of debt relief grants that can be beneficial for you to eliminate your financial obligation:

 

¨     Homeless Prevention and Rapid Re-housing Program (HPRP):

Homeless Prevention and Repaid Re-housing Program is designed for consumers who’re behind payments, and on the verge of losing their shelters. This grant is funded by the American Recovery and Reinvestment Act of 2009. Well, the US Department of Housing and Urban Development monitors the HPRP. The State of North Carolina provides HPRP assistance in collaboration with the Housing Finance Agency (HFA). The residents who are eligible for the financial assistance can get help from the HFA. These people are offered help to pay rent, security deposits as well as moving expenses. However, HPRP is available for rental housing expenses, but this program is not designed to prevent foreclosure.

 

¨     LIHEAP:

You can qualify for a Low Income Home Energy Assistance Program if you get a disconnection notice for not making timely payments on the utility bills. Generally, the states as well as the United States territories receive block grants from the U.S. Department of Health and Human Services that sponsors LIHEAP. You can be eligible for LIHEAP if you meet the income limits. The grantees supervise the program through local state government as well as non profit agencies. The guidelines of the program may vary from state to state, so you need to go through the guidelines before applying for the grants.

 

¨     Local Programs:

Some of the local government offer programs to assist the residents facing financial hardship. You can apply for the program with basic problems related to housing. The Housing Assistance Programs are only available for disabled as well as low income residents. This program can only assist you to pay mortgage, rent or utilities.

 

Therefore, you need to consider your financial situation and the types of debts you owe in order to take financial assistance that can be beneficial for you. To know more about debt settlement you can visit here …..   

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