- Personal Finance
Debt Relief Grant
People Are In Debt Over Their Head
There are so many ways to go into debt. People buy houses before they have enough money because the banks will let them do it. As a result they have a mortgage that is too big and one lost job can cause them to lose their house. This has been seen over and over again during the current mortgage crisis.
College prices have gotten out of control and students are graduating with big debt just to get a liberal arts degree. Women are frantically looking for Obama grants for moms because that is the only way they are ever going to be able to return to school. It might be OK for doctors and lawyers to be in debt because they have the ability to climb out of it but people with normal everyday degrees don't have enough earning power. Beginning your working life steeped in debt is not the optimal way of doing things.
People are heavily in debt with credit cards as well because the credit has been so easy to get. Just about everyday the average person gets a "pre-approved' credit card application in the mail and too many people can't resist it. The old way of saving before you buy has gone out the window as people want things right now and think they deserve them right now. Credit cards charging upwards of 15% have put many folks in a very bad financial position.
Is There Debt Relief?
What kind of debt relief is available? You can sign up with many different companies that will try to consolidate your debt and get it into one monthly payment but something like that is not going to work unless you have the ability to stop spending. If you are addicted to charging things you can't afford on your credit cards, there is nothing anyone can do to help you.
You first have to realize that you will have to make cutbacks on your spending. Many people are used to having certain luxuries and if they are unwilling to sacrifice any of them, there is nothing any debt agency can do to help you, If you are in debt, you are going to have to cut back on your spending with or without debt help. This is part of the problem with our society today is that too many people expect to have things and feel they deserve to have things even if they can't afford them.
The credit card companies are partly responsible for this mentality because they have made getting credit so easy and also made it sound appealing as well. Those in our society that are uneducated about the long term effects of debt are now paying the price along with the rest of us as it is dragging the whole economy down.
Help From The Government
Is the government really going to help you with your debt? Can you get debt relief grants or is that something that is only rumored to be true? So many people voted for a new President because they though he was going to help with the economy. Most likely they thought he was going to send money back to everyone like Bush did 3 or so years ago. They thought the stimulus bill was going to have help in it that they could directly benefit from.
Some people have gotten breaks on their mortgage payments but those have helped only a fiew people and those that didn't qualify have gotten upset. The truth is that the government can't help you out of the debt hole you are in because the government is in an even bigger one. How can the US government that is now in more debt that ever before in it's history help individual people when it can't even take care of it's own finances?
It looks like anyone who is seriously in debt needs to ratchet back their spending and start to figure out how to repay the debt. This is difficult for lots of people because many jobs have been lost and continue to be lost. Right now it is a difficult time for everyone in this country and the world as a whole is having problems too.