PostHeaderIcon I have about $12,000 in debt…..?

including $4600 in federal student loans. Where can I get like a government grant to reduce these debts? or where can I go so i can get some debt consolidation?

7 Responses to “I have about $12,000 in debt…..?”

  • jenks1545 says:

    is all of this debt school loans or credit card loans? if they are all school loans all you have to do it call the loan company and consolidate them.

  • lisaclara says:

    I really recommend Crown Financial Ministries – they specialize in showing people how they can get out of debt. They run a great seminar series. Be really careful about the schemes and scams that are out there because there are alot of them. You really need to meet with a real financial planner to help you make a decision like this. I wouldn’t trust any website for debt consolidation you might hear about on TV or the internet.

  • Cindy Roo says:

    Try Consumer Credit Counseling, it is a great way to save your credit rating and consolidate loans and almost all creditors will work with them. Good luck!!!

  • Law D says:

    Most debt places out here take longer for you to pay off than the original debt so be careful.

  • tasgunter says:

    If credit card debt….or lots of interest… not do debt consolidation it can actually hurt your credit…ya I know to me debt consolidation sounds great too! but just take the highest interest rate card and pay as much as you can on it lots more than the min. and pay the min on all the others. Since you have paid the highest interest first you will save money…

    15% int….min pay $50 you should pay $75 or more! 100 is best

    Trust me I am in the same boat just about double your debt! (car included). and after I look back to the year it actually does go down. and sooner or later you will be debt free. Just do not charge any more on your cards unless it is an emergency.

    Also one thing I have learned is that do not pay the min payment…just a little more all the credit card company knows is that you paid above and beyond. By paying more I mean a dollar or so. does not have to be alot.

    If the creditors are calling then do the debt consolidation. it is better than being bankrupt
    Hope this helps.

  • stone m says:

    You should opt for debt consolidation. When you gets into a debt trap it becomes difficult to get out of it. Taking more loans to repay the debts leads to more stress and financial crisis. Finally, there is no option but to adopt debt consolidation, which leads to a new llease of life. Many people receive abusive calls from debt collectors and are stressed. Hence opting for debt consolidation is the number one solution and helps to overcome abusive calls and be free from mental stress.

  • imisidro says:

    The government is NOT in the business of giving away free money for the sake of giving away money. There are no grants for paying bills, no grants for paying off credit cards, no grants for getting out of debt and no grants for simply fattening your wallet.

    Grants are free, but it means OBLIGATION. You will be obligated to do as the grant sets out to do. Grants have objectives, and your purpose must fit the objective of the grant.

    For one, you have to write the grant application and the grant application is not a simple document – you have to explain how your purpose for applying for the grant fits well with the objectives set out by the grant.

    There is a stringent review process through a committee. You will compete with other applicants for the grant money, and this grant review committee will evaluate the merits of each proposal. Only those that they feel exemplifies the objective of the grant will be approved.

    You can go to the Catalog of Federal Domestic Assistance (CFDA) and – these are two sites created by the federal government to provide transparency and information on grants. Browse through the listings and see if you can find any grant that would support your purposes.

    Even if you buy books on “how to get grants” or list that supposedly has information on grants — all of them are mere rehash of what CFDA has, albeit packaged differently.

    Note though that these grants generally support non-profit organizations, intermediary lending institutions, and state and local governments. Most of the federal grants are given to specific target groups with specific requirements (e.g. minority business owners involved in transportation related contracts emanating from DOT – Grant#20.905 Disadvantaged Business Enterprises Short Term Lending Program. Individuals especially for personal purposes are not eligible for federal grants.

    Grants are also often given to non profit groups or organizations involved in training or other similar activities (grant 59.043 Women’s Business Ownership Assistance that are given to those who will create women’s business center that will train women entrepreneurs

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