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What is Government Debt Consolidation?

Government money has been made available to those worse affected by the economic crisis and government debt consolidation in the form of government grants is an application form away; but, where are these application forms and how do you qualify for these grants?

Unless you have been sitting in a darkened room with no outside contact for the last two years with the state of the economy both in the US and around the globe hasn't been a pretty picture.

The US sub prime crisis has developed into a world wide domino effect of catastrophic proportions. The US is playing the part of the pied piper and as its citizens are losing their homes, their savings and now their jobs today they are closely followed by the UK and the rest of the globe tomorrow.

So, what will the government do, or rather, what is going to happen?

Recessions do not just stop and everything suddenly becomes great again, if only! It takes time and a good deal of patience. The US is currently experiencing the worst recession since the depression of the 1930's and if it wasn't for the measures taken by the new president this week it would probably be heading towards the worst US recession of all time.

The measure mentioned is a $787 billion stimulus package that will be used to create jobs and stimulate confidence in order to resurrect consumer spending, which is what economies live and die by.

OK, so this is great but how will it help you? Well, initially it won't; this is a long term strategy and the benefits of this stimulus package won't be seen until late 2009 or possibly 2010, so don't expect any miracle turnarounds just yet, but there are things that are already in place that can help you.

Government Grant Money for People in Debt.

The people most affected by the economy collapsing are always the people at the bottom of the food chain; the factory worker, the cleaner, the normal Joe; without whom everything would grind to a halt, and it is they who have the most to benefit from government debt consolidation.

There is a considerable amount of government grant money that has been made available for anything from mortgage assistance to child day care costs, believed to be in the region of $10 billion, and these funds have been targeted for use by those people deemed to be in the worse financial situations; all they need do is apply for their share of this money.

The Government, have not wasted any money advertising the fact there is bail out money in the pot, other than initial broadcasts covered by the national media, so it has been down to the individual to track down where, and how, they can get a share of this lifeline.

The best place to start looking for grant application forms is http://www.grants.gov/ and once you have found the ones you are looking for or where to pursue applications for your specific part of the country, it is simply a case of posting your application, either by mail or by internet, and waiting.

Don't be concerned if you are declined initially, it is common for the first application to be declined, keep persevering and you will eventually be accepted, and there is nothing stopping you making more than one application. The more you apply, the greater your chance of being accepted

Don't forget these are not loans; they are Government grants and as such are not required to be paid back.

This is just one of the steps you could take towards freeing yourself from debt there are other methods that you could utilize alongside government grants and consolidation that you can find more information on at the end of this article.

Source: Free Articles from ArticlesFactory.com

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