Government Debt Relief - Indiana
Are you looking for a proven way to get assistance with your high-interest credit card debts - maybe even with some form of government debt relief? If so, you're not the only one. These days, many people in Indiana and other states are also overwhelmed with credit card debts as well as other types of unsecured debts - like medical bills, department store charges, or even gas charges.
And, due to news regarding government-funded resources and bailouts for financial institutions, many consumers hope that there is a similar type of grant or government debt relief for them. Unfortunately, there is generally no such thing as government debt relief for consumers. The good news is, if you are struggling with debts, there are a varieties of debt relief options available - including debt consolidation, debt settlement, or even bankruptcy.
Explore your debt relief options. Answer a few, simple questions and request a free debt relief analysis and savings estimate.
Credit Card Debt Consolidation
One form of debt relief assistance (though not government) that has proven to be of help to many consumers struggling with debts is debt consolidation through a credit counseling agency, or what is referred to as a debt management plan (DMP). When you enroll in a debt consolidation program, credit counselors will review your finances, debt amount, and overall ability to pay those debts. Then, they will typically create a strategy to help reduce your debts and submit proposals (on your behalf) to creditors asking for a reduction in interest rates, or the elimination of any late fees and other penalties.
The goal of debt consolidation is to provide you with a single, more manageable, and more structured repayment plan so you can, hopefully, direct more of your money towards paying the principal of your debts versus simply just paying the interest.
Another viable relief option, for many consumers, is debt settlement - a process where you hope to settle or negotiate with creditors for substantially less than what you actually owe. Many consumers in a debt settlement program are advised to stop paying their credit card bills so they can accumulate funds, over a certain period of time, which can be used to make a reasonable settlement offer.
In many cases, creditors typically threaten to take legal action against consumers that default on the terms of their credit card agreements. Many of these consumers, as a result of non-payment, will typically see their credit scores go down.
Yet, in spite of the potential risks to their credit scores and the possibility of getting sued, debt settlement remains a popular alternative to bankruptcy - which can have a more devastating and longer lasting impact on personal credit.
Government-Funded Programs and Resources
While the federal nor state government does not typically provide consumer debt relief in the form of grants, it does provide a variety of programs that can assist consumers who are struggling with their finances or possibly overwhelmed with credit card debts. If you're in a similar situation where your debts, for instance, have skyrocketed and your income has been reduced, and you may be forced to forego the essentials - such as medicine, food, and utilities - fortunately, there is help available.
In Indiana, for example, there is a program called Temporary Assistance for Needy Families (TANF) that reaches out to financially strapped individuals. This program replaces the Aid to Families with Dependent Children (AFDC), or what was formerly known as "welfare." State-funded programs like TANF provide cash assistance and other supportive services to eligible families with children under the age of 18.
In addition, if you are interested in learning about employment services, the state also offers a program called Indiana Manpower and Comprehensive Training (IMPACT) which offers job training services and counseling, and other types of help designed for unemployed workers looking to get back in the job market.
So no matter which option you choose to get consumer credit card debt relief - whether it's in the form of debt consolidation or debt settlement services - or you simply want to take advantage of a government-funded program to assist with your needs - there is help available for you and your family.
See your debt relief options today. Request a free debt relief analysis and savings estimate today.