The US government has made provision for the Veterans by offering them numerous debt relief grants for monetary aid to clear off debts. The grants have been initiated with the purpose to offer support to Veterans who have once served our nation.
Veterans who have incurred huge debts and have insufficient finance to clear them can avail varied grant programs and options that can pull them from their crisis situation. Read the article to know your options that will help you clear your liabilities and assist you to go back to a debtless life.
Debt Relief Grants that Veterans Can Apply for
The US Grant Programs for the Veterans offer help in case of a financial crisis that can be later consumed to clear debts to get back on feet. In 1989 the U.S. Department of Veterans Affairs (VA) was established with the mission to serve the American soldiers. The VA commits to provide support to Veterans and their families, shelling out almost $90 billion per year to fulfill their needs such as:
• Housing grants
• Medical care grants
• Business grants
• Legal representation grants
• Education grants
• Health and nutrition grants
• Unemployment benefits
• Disability compensation
• VA pensions
• VA life insurance
• Financial counseling
• Death benefits
• Government grants for real estate investing
• Loans and relief fund
Covering for the Debt Crisis
The government has levied many special laws and programs in favor of the Veterans and service members to help them out of debts and relieve them from the constant worry of repayment. For instance, service members in active duty need not pay more than 6 percent interest for their credit cards, they have the authority to call off their rent with no penalty and they can remain safeguarded against foreclosure of the property.
If you are still in debt, the main aim must be to clear the complete debt but that can be done sparingly by availing other probable options to reduce the load. Some options to consider can be:
Debt refinancing: it’s a popular idea where a new loan with a lower interest rate is taken to clear off the previous multiple and segregated debts taken. Pay off all the debts at once and only worry for one loan to be paid. Start making arrangements from the varied options for the new loan. The VA loan offers added benefits, higher loan amount, low-interest rate, easy lending processes, and better repayment procedure.
Debt Settlement: it is also a preferred option that can help Veterans to negotiate and lower the amount to be paid, hence saving the dollars. Through reputable debt settlement firms, the negotiation can be done. Even the Department of Veterans Affairs offers options for debt settlement in case of education loan, mortgages, home loan and others.
Veterans thus have multiple options to avail for debt relief. Calculate the payments to be made, talk to the negotiators or debt settlement companies, list the benefits of debt relief grant for veterans, avoid incurring any more debts and make your move with the best strategies.