How to Find Debt Relief Grants

Debt relief can allow families to save and invest more of their income.

Grants are non-debt cash infusions offered to individuals and organizations from government and private sources. Grantors create grant programs to address a wide range of needs. Debt relief is one such public need that can be served by both government or private grants. However, debt-relief grants are not offered to everyone. Grant-seekers must compete against others in need of grant funds via the grant-writing process.



Grant-seekers can find debt-relief grants online, and can seek more information on specific grants by contacting individual grantors. Grant-seekers do not have to search only for debt-relief grants; grants for emergency housing or food assistance, for example, can free up personal income for debt payments.

Things You'll Need

• Computer & Printer
• Phone

Instructions

1. Visit grants.gov and click "Find Grant Opportunities" on the home page to search for federal government grants. Grants.gov allows you to search for debt-relief grants using a keyword search, or you can browse lists of grant categories and granting agencies or browse using more specific search criteria.

2. Contact your local Secretary of State's office to locate grant opportunities at the state level. Each state offers a different range of grants administered by different state agencies. The Secretary of State can serve as a source of information on what grant programs are available and which agencies you need to contact to apply for each one.

3. Visit foundationcenter.org and click "Find Funders" to search for funding sources in the private sector. Private grants are offered by estates, businesses, nonprofit organizations and even individuals. Private grants address a wider range of needs than government grants, since they are not responsible to the public at large for their spending. Foundationcenter.org serves as a portal connecting grant-seekers with a range of private grant opportunities.

4. Contact each granting agency you discover in your grant search and request specific grant proposal guidelines for each program. Custom-tailor each grant proposal to the specific grantor and program guidelines. Use your grant proposal to convey three key points of information: how large your debt burden currently is, how you will use the funds to get your head above water and your financial plans to avoid ending up in the same situation again.

Tips & Warnings

• Consider alternative debt-relief options if your grant proposals are denied. A debt settlement, for example, can allow you to pay off your existing debts with a lump sum, for an amount usually lower than your total outstanding balance. If you do not have the cash on hand to reach a settlement on your own, a debt consolidator can settle with your creditors for you and give you a single bill each month until you repay them.

References

• Proposal Writer: What You Should Know About Grants and Funding
• Poughkeepsie Public Library District: Grants for Individuals

Resources

• Grants.gov
• Foundation Center