Department of the Treasury publishes a comprehensive list of such programs on its website.įederal grants exist to help qualified consumers with overwhelming debt due to student loans, mortgage debt, medical debt, debt due to disaster or fire, and many other causes. Programs that allow for grants, loans, and federal assistance for debt relief can be difficult to research, and even harder to qualify for. Recent changes to FICO credit scoring treats medical debt in collections differently than other debt making it possible to remove medical debt entirely from a report when the debt is settled. Some programs also offer grants and debt forgiveness for qualified candidates. State and federal programs, as well as those run by private organizations, can help in lowering payments and consolidating medical debt into a single payment. Medical debt relief programs are designed to assist people who find themselves in financial difficulty due to medical bills. Not only does financial hardship add stress to one’s life, but it also affects a person’s health and welfare. Medical Debtīeing overwhelmed with medical debt can be an especially hard burden on anyone. In addition, many employers and even some states have initiated student loan assistance programs that can help in paying your loan debt.īegin your research by checking out the FTC’s Student Loan website. Loan forgiveness programs can also help reduce your principal amount and even eliminate your debt obligation entirely in some instances.

Fortunately, student loan debt relief programs - both private and government-run - can help make student loan debt more manageable. The explosion of student loan debt in recent years has led to a steadily increasing number of loan defaults. See options for debt relief companies listed above. Whether you choose to negotiate directly with your credit card issuer or hire a debt relief company to help you through the process, it pays to do your research and know your options.

Of course, it can also be complex when you are unable to meet your debt obligations and must negotiate a settlement. It can be as simple as calling your card company and asking for a reduction in your APR or some extra time to pay your balance.

Credit Card DebtĬredit card debt relief is one of the most common forms of debt relief consumers seek. Here are some examples of different types of debt relief programs available. Of course, debt relief programs can be complex and are best handled by experts in the field. Government and privately managed programs are also available to consumers - often without the need for an outside agency. Debt relief programs are often designed to manage certain types of loan debt by addressing the factors and considerations unique to each.

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