Why file for bankruptcy when you can have the Federal Government assist you through their new grant programs? It takes about the same amount of work but with fewer consequences. Let’s look at this carefully.
When you file for bankruptcy, you will lose all of your credit for at least seven years. It could take more than a decade to build it up again. During this time, you will always need someone else to sign or co-sign for you in cases of loans, rentals, or other aspects of life. That is a heavy price to pay for losing your debt.
Using government grants can help eliminate up to 60% of your debt depending on your level of income, total debt and other relevant financial matters. They use certain formulas to be able to figure out what percentage of debt for them to assist you with. For whatever portion of your debt that is eliminated, it will be a great help and it won’t ruin your credit. It will actually help you build your credit back up.
If you are concerned about the various sorts of debt that you may have then there are several areas that these grants cover. You can apply for more than one if you are eligible. You can find all of the qualifications online at Federal Government website.
It will be worth your time to go through these grants. Though there may be some time involved, when you are approved for these grants, you will have less debt and your credit rating will not be ruined.
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