Debt Help Services

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Question: Where can I find a list of reputable debt relief programs? ?

My mom got a letter from a debt relief program, shes thinking of looking into it but before she did I wanted to know if I could find out if its reputable.

Its National Debt Relief Divison

Answer: Please don’t use a debt consolidation agency. Debt consolidation is not free. While it may lower your payments now, you will owe more money and be in debt for a much longer period of time, sometimes years.
Have a garage sale and sell anything that you no longer use or need. Get a temporary part time job and put all of that pay onto your debt. $8K is not that much and you could knock it all out in less than a year. It is better to have a tough no fun year than a tough no fun decade.Here is a plan that can help you. If you work the plan, the plan will work for you:
1. Make a budget. Make the budget a week before you get paid. A budget is not a punishment! It is a tool which will free you from ever having to worry about money again. Put everything in your budget. Especially those annual, biannual, or quarterly bills like car registration, insurance, etc. Give every dollar you are going to bring home the name of where it is going. Add an “emergency fund” category to your budget for 25 dollars and save up until you have 1000-1250 dollars. Your emergency fund will help keep you from getting into new debt because of an emergency. If you can, set up a direct transfer to a savings account for your emergency fund. That way it moves automatically and you don’t even have to worry about it. You must cut your spending and live on less than you make.

2.First get current on all of you debts and make no more late payments. Stop using your credit cards immediately. Do not take on any more debt. Credit cards are like quicksand only the death is much slower. Make a list of all of your debts in order of highest interest rate to lowest interest. Use cash only for your spending from now on.

3.Pay the minimum due on all of your debts and then put your extra money towards paying off the highest interest one first. After you get that one paid off, you put the money you were paying on debt #1 (the minimum payment and the extra payment) towards debt #2. That will pay debt #2 off faster. When that is paid off, you put all three payments towards card #3 and that one will be paid off pretty quickly. As an example:

To start :
Debt #1 (highest interest): minimum payment+ extra payment
Debt #2 (middle interest): minimum payment
Debt #3(lowest interest): minimum payment

Debt #1: paid off
Debt #2: minimum payment from Debt #1+ Minimum payment from Debt #2 +extra payment
Debt #3: minimum payment

Debt #1: paid off
Debt #2: paid off
Debt #3:Mimimum payment from card #1+ minimum payment from Debt #2+ minimum payment from Debt #3+ extra payment.

That way, you will get them all paid off, on time, and pay the least interest. It will also help towards rebuilding your credit since you will no longer have any late payments. This works no matter how many different debts you may have.

4. After you get all of your debts paid off, add to your emergency fund until you have 6-12 months of income saved up. Put that emergency fund money into a liquid money market fund or into a Bank of America no-risk CD so that if you need the money you can take it out without penalty.

5a. When you have your emergency fund in place, add a category for “fun” to your budget. Save for a holiday, a vacation, a big screen, or dinners out, whatever goal you want. Remember to enjoy your life.

5b. When you have your emergency fund in place, start saving for your retirement. Join the 401(k) plan at work and contribute the maximum. Your employer probably matches at least part of your contribution so why give up free money? Open a Roth IRA and contribute the maximum on a monthly basis. If you start saving for your retirement now, you will probably retire a millionaire.

5c. When you have your emergency fund in place, start saving for your next car. Only buy cars, or other things that depreciate, with cash. Save up for a nicer car. That way you get the interest instead of paying the interest.

House clears historic health care expansion

The House on Sunday approved sweeping legislation to guarantee most Americans access to medical care for the first time in history. The bill, which passed 219-212 without a single Republican vote, delivered President Barack Obama the biggest victory of his young presidency.

National Debt Relief Group

Finance and Banking

On 14 December 2009, UAE’s stock market shot up in excess of 10% following the announcement of the due repayment of $ 4.1 billion to the Sukuk holders of Nakheel Development Limited following a $ 10 billion support payment from Abu Dhabi to the Government of Dubai.

Hispanic Families Can Also Avail Free Money From Government Grants Aimed At Debt Relief Program

Question: I am looking for a grant writing professional for debt relief or buisness start-up grant. Thanks in advance?

I am looking for a grant writing professional to assist me in obtaining a grant for debt relief or business start-up, or both if at all possible. I have business plans and many ideas; I just cannot obtain financing from banks, etc because of my credit. The reason my credit is poor is because my mother lost her job after 27 years due to downsizing and we lost our house and one of our vehicles. 2007 was NOT a good year for us. I am sure everyone has their problems and I apologize to anyone who unwilling lost their home, it is extremely hard especially after living there for 20+ years; it is also hard to find a decent place to rent with poor credit. My credit is poor trying to help my mother which I do NOT regret, yet we are kind of stuck right now. I appreciate any assistance you can give me and please do not post negative answers I have had enough people try and tell me what I can and can’t do with my life. Thanks for your time and I hope to hear from someone who can help soon.

Answer: You are better off finding a second job or other sources of funds, than wasting your time looking for a grant professional to do this for you

I am sorry but there is no such thing as grant for debt relief -- otherwise, everyone with debt will just go to the government and request for grant

It is hard to find grants to start a business. Unlike the myths that some perpetuate, federal government and even private foundations hardly give grant money for starting a for-profit business.

One possible exception is for companies developing or exporting agricultural goods, including food and forest product. Another exception could be the Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) programs http://www.sba.gov/aboutsba/sbaprograms/sbir/index.html , which fund the research and development of technological innovation that meets specific government needs.

Your best bet actually will be from the states if they offer grant programs for women (or any other special interest groups -- minorities, women, disabled, veterans, etc). Or check with non profit organizations, particularly women organizations if they offer grants. Examples include

Iowa Women's Foundation http://www.iawf.org/
New Mexico Women's Foundation http://www.nmwf.org/guidelines.html

Even SBA does NOT give out grants. From the SBA website http://www.sba.gov/mostrequesteditems/CON_FAQ2.html

"The U.S. Small Business Administration does not offer grants to start or expand small businesses, although it does offer a wide variety of loan programs. (See http://www.sba.gov/financing for more information) While SBA does offer some grant programs, these are generally designed to expand and enhance organizations that provide small business management, technical, or financial assistance. These grants generally support non-profit organizations, intermediary lending institutions, and state and local governments."

Nonetheless, you can go to the Catalog of Federal Domestic Assistance (CFDA) http://www.cfda.gov and Grants.gov http://www.grants.gov - these are two sites created by the federal government to provide transparency and information on grants. Browse through the listings and see if you can find any grant that would support a for-profit venture.

Here is a listing of federal grants for small businesses. See if there is any available for individuals for starting a business -- THERE'S NONE.

http://12.46.245.173/pls/portal30/CATALOG.BROWSE_BENEF_RPT.show

Most of the federal grants are given to specific target groups with specific requirements (e.g. minority business owners involved in transportation related contracts emanating from DOT - Grant#20.905 Disadvantaged Business Enterprises Short Term Lending Program

Grants are also often given to non profit groups or organizations involved in training or other similar activities (grant 59.043 Women's Business Ownership Assistance that are given to those who will create women's business center that will train women entrepreneurs

Forgiving Haiti's debt called key to recovery

Obstacles on Haiti’s road to recovery were removed in early February as major players in the international financial system took up the cause of canceling Haiti’s $890 million international debt.

debt relief grants from the government