Debt Payment Grants

Debt increases when an economic hardship occurs. Unsecured debt, including credit cards and medical bills, can accumulate collection fees and interest if unpaid. Many consumers struggling to meet payments to creditors each month seek additional funding to decrease their overall debt. While specific grants are not available for personal debt, there are several companies that work on behalf of the consumer to stop collection calls and eliminate accrued interest and fees.

Freedom Debt Relief

Working with credit card companies and debt collection agencies, Freedom Debt Relief is able to consolidate consumer debt. To qualify you must have at least $10,000 or more in unsecured debt. Charged-off bank accounts, credit card debt and utility bills qualify as unsecured debt. It is necessary to meet with a counselor to discuss debt management options. The officers at Freedom Debt Relief will then contact collection agencies and set up payment agreements on the consumer's behalf. These payments are figured into one low monthly payment for the consumer. Debt owed can be decreased by as much as 50 percent of the original amount and be paid off in 24 to 48 months.

American Consumer Credit Counseling

American Consumer Credit Counseling (ACCC) is a non-profit organization that works with consumers to help manage debt. On top of working with creditors to decrease monthly payments, this company also offers additional services such as budget and credit card counseling. Once an affordable monthly payment plan is reached between ACCC and a consumer to pay off debt, ACCC will outline a detailed budget plan to help a person stay out of debt and manage monthly bills and unexpected expenses. ACCC also offers bankruptcy counseling for those with large amounts of debt that cannot be paid off and housing counseling for consumers facing foreclosure.

CareOne Credit Counseling

Debt management and debt counseling can be found at CareOne Credit Counseling. Trained staff teaches clients via telephone or online about managing their debt. CareOne Credit Counseling sets up affordable payment plans between creditors and consumers. It is up to the creditor if they wish to participate in plans arranged by debt management companies. Most creditors choose to close out delinquent accounts. CareOne Credit Counseling also offers settlement plans to help consumers avoid bankruptcy and bankruptcy counseling.