22 December 2016

Credit Card Debt Relief Grants-Free Money For Bills

Get financial help and debt management plans for your credit card bills and pay off your due bills with lower interest rates.
Are you stuck with your credit card debts? Well, this can be a real intimidating situation with creditors dunning you persistently and the ever increasing interest rates. Don’t feel overwhelmed, there are few options that you may consider.
Agencies recognized organizations, banks, debt management companies, nonprofits and credit card companies also offer assistance programs and funding that can help you with your debts.  Let’s have a look at them.
Debt Settlement Programs: here the companies usually negotiate with the creditors for a settlement to clear the debts. You will need to put aside a certain amount in savings every month for debt clearance. The amount needs to be transferred to an account for building up savings enough to pay off the negotiated debt settlement amount.

Debt Management Plans: credit card companies, credit counseling agencies, banks and even nonprofits offer DMP. Professional creditors on behalf of the consumers help in reducing the debts, lower the interest rates and also waiving off fees. It helps in reducing the monthly debt payments, avoid any over limit fees or late fees, combine all your debts into a single payment and save you from harassment of the money collectors.
grants for-credit-card bills
Debt Consolidation Loan: you can get a single personal loan from a lender and pay off all other separate debts. You will then have only one monthly fixed payment to make which can be paid in installments. The time period to pay off the amount usually varies from two years to five years. The interest rate may vary depending on your credit amount.
Credit Counseling Services: it helps to develop a personalized plan according to your income and savings to pay off the debt. You can get low cost or free credit counseling services from nonprofit organizations, credit unions, religious organizations and extension offices. An accredited credit counselor will help lower your payments and simply the process through budgeting and money management assistance.
Forbearance Programs: consumers struggling to pay their credit card bills can avail the forbearance program-an agreement between a lender and a borrower. It temporarily reduces or stops monthly mortgage payments for a short period that may range from weeks, months to years as decided upon. During this time period, the interest rates will be low and will provide the opportunity to arrange for the money. Different banks have different forbearance programs; do your research before applying.
Debt Restructuring: companies and creditors help to restructure the debts and plan the payments as per the comfort of the consumers. An agreement is done where the payment is structured, the interest rates are lowered, certain charges are waived, certain settlements done, and specialized plans and assistance offered. This reduces the hassles and worries of paying the credit card debts.
Start visiting your government-approved credit counseling agencies and talk to them about your hardships. Try to negotiate with them and come to a settlement. Also, beware of scams or false guarantees to settle all your credit card debts. Start applying for debt settlement programs.

Tags- debt relief grants, credit card debts, grants for bills, free money to pay bills, help to pay off debts, for low income, for single moms.

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