Important Information Regarding Debt Relief Grants

Debt relief grants are available from the government; they do not require any collateral from you. You do have to prove you are not in a position to repay your debts. These grants have been specifically designed for people who have student, new business or medical debts. The idea behind the debt relief grants system is the government helps a person pay off their debt so they can begin spending their money as they normally would. This spending then stimulates the economy, encouraging growth.

In order to apply for these debt relief grants, you will need relevant information indicating how much your debt is and evidence of why you cannot meet the payments. You will need paperwork such as credit card bills, loan balances and bank account statements. These should all be as up to date as possible. You also need to include evidence of any court action taken against you as well as any visits from bailiffs or debt collection agencies.

You will then have to write a grant proposal, this is an important part of the process and could ultimately decide whether you are given the grant or not. This process is far from easy and it is recommended you seek help either from a government agency designed for helping people through the process or a specialist service. They can help ensure you have the right information in the grant and will edit your proposal so it is free from errors.

If you are refused one of the debt relief grants, you still have options to help you reduce your debt to a manageable level. Be careful regarding any companies who offer unsolicited advice or help. Many of these companies have hidden fees and charges, which will only add to your debt problem.

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