CROSSFIT AFFLICTIONCROSSFIT AFFLICTIONMenuSkip to contentHomeReach MeGovernment debt help and the financial counselors
Government debt is the debt which is owed by the central government. It is one of the methods by which the government finances its operations. Government debt is an indirect debt of the taxpayers, as most of the income of the government is drawn from its population. Government debt falls in the category of the internal debt and external debt. Internal debt is the one owed to the lenders with in the country where as external debt is the debt in which money is owed to the lenders who reside outside the country. Government usually borrows by issuing securities, bills and bonds.
Programs on government relief for debts
Government debt help programs are limited, but they do exist, but there is no ways that will help your debt disappear magically. There are confusions about what government can do to provide debt relief. There are assistance programs and grants. There are a multiple number of programs that help families with a low level of income who cannot fulfill their basic necessities like food and house rent.
There are companies that deal with clients who are stuck in serious debt problems. You should always take expert, no matter what the situation is. Before contacting a debt managing company, you should have some documents with you like the details of your debts, your income which should include benefits or pensions, your household bills like the food and utilities and the approximate details of your assets and their value. There are certain companies that claim and promise to provide such grants that will help pay your credit card debt. You should always be careful and should never trust such companies because they are nothing but scams. These companies trick people into paying for information that is available publically and won’t help at all in solving your debt problems.
Financial counselors provide free and confidential services. They can:
1) Suggest you different methods to perk up your financial problems which will help you to maintain a better standard of living.
2) They can look into your matter and see that if you are qualified for the government assistance.
3) They can negotiate the arrangements on repayment with your creditor on your behalf.
4) They can help you manage your finance and make a budget for you.
5) They can explain you about the options that are available to you and what will their consequences are. These include procedures for bankruptcy, debt recovery and explanation of the other alternatives.
6) They can also aid you in applying for variation in hardship.
7) They can also help you with the debts that are not being paid after your hardship.
8) Protect you from the threats and harassment of the debt collectors.
9) Help you with the small problems like disconnection of gas, house eviction, phone, electricity etc.
10) Help you with the uninsured taxation debts, car accidents or any type of unpaid fine.
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