There is government aid available in other finance areas, but not in debt consolidation in particular. However, there is government assistance for debt relief. This has not been a popular option for debt-stricken individuals perhaps because there is lack of awareness of this benefit.

The type of assistance may come in the form of government grants and these can definitely help an individual with their financial goals. But it is not a well known option because it is not heavily advertised to consumers like other debt relief services. Believe it or not, there is actually billions of dollars each year that are set aside to help consumers with their financial struggles. Many people come to think that this assistance is only available for large companies, while in some cases this is true, for the most part it is possible for the average consumer to obtain a government grant. 

These are readily available and are easy to obtain because there is no need to put up collateral. An individual can use these funds to start up a new business or to help keep their company afloat. Once your company is ready to go and you are making a profit some of the money you earned can be used to pay off your debts. They can also be used for past medical bills, business expenses, education, etc.

All you have to do is prove that you are clearly not financially capable to pay off your current responsibilities. The government will require a complete review of the consumers financial situation to see all of the debts they have acquired and the means of paying them off.

One of the most beneficial reasons to apply for this is because you may be able to avoid the need to declare bankruptcy. Why go and ruin your hard-earned credit rating when there may be help available for free.

So if you are looking to obtain a government grant make sure to do some research to find the most suitable solutions that best suits your situation. You can check out a directory of grants available to the public here: Catalogue of Federal Domestic Assistance

Moe Bedard
My name is Maurice "Moe" Bedard. I am the founder of America's #1 Mortgage Forum, My online work has been featured in the New York Times, LA Times, Fox Business, and many other media publications.