Sunday, July 15, 2007

Are There Grant Programs To Help Pay Off Your Credit Card Debt?

Are there grants to pay off your credit card debt? In a word yes. But there are some conditions. First of if you have a huge amount of credit card debt - say over $20,000 - you have to realize that that is a lot of credit card debt.

While the government feels that one should be held responsible for their own credit card debt some loopholes have been found!

There are some grant programs out there that award grant money of up to $50,000.00 and the grant recipient can use that money any way that they want to! Thus an example of a loophole! The grant money can be used for anything which includes paying off debt - which includes credit card debt.

If you are eligible to apply for these kinds of grants I think that it would be much better than having to go the route of debt consolidation or going to companies that offer to fix your credit for a fee.

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