If you have a lot of debt, it can be even tougher, since there is a very good chance that your credit score is sagging some.
Even people with excellent credit are being turned down right now for loans, because the lenders just do not have the liquidity to make the kinds of offers that they have in the past.
So that brings about an interesting question for people who need to get themselves out of debt.
What in the world are you supposed to do if the loan market is not open? One alternative is to go with government grants for your debt relief needs.
You might be thinking that there is no possible way government grants are easier to come by than traditional loans.
This is the case right now, though.
The government gives out plenty of money every year.
Many people estimate that the government gives out as much as a billion dollars to people with various needs.
Even though this amount of money is close to startling, it is still not a popular thing.
People don't know that the money is out there, so they don't rush to apply and create a lot of competition.
The nice thing about the grants is that they are blind to your credit.
These are mostly need-based grants, so being down and out actually helps you cause.
With loan programs, you have to go through an approval process in order to get the money.
You have to be scrutinized from a credit standpoint or you have no chance to get a loan.
Grants take your situation and they understand where you are coming from.
If you are having struggles, then the idea is to give you money to help make you a better part of the economy once again.
Don't fret if you have been stuck up under a bunch of loans for a long time.
Many people have found themselves in that same situation and they have been able to get out of debt.
If you are smart, you can make it out of debt, too.
You will need to write a good grant proposal and the rest of your application will have to be quite strong, but with those things, you should not have a ton of trouble qualifying and getting the money you need.