However, such consolidation loans have costs: fees, interest, and "points" where one point equals to one percent of the amount borrowed.
In some countries, these loans may provide certain tax advantages.
We then outline all of your options and of course, consultation is always free.
Government grants are one of the best debt relief options.
Even though grants are not as popular as debt consolidation loans they are available to individuals. They are right for you if you’re deep in debt and are looking for a source of fund for paying off your debt — if you’re eligible to apply for this financial assistance.
If you think that getting a debt consolidation loan is the best option, think again. With free grants from the government, you can have the funds for paying off your debt without incurring another debt.
The best thing about these funds is you don’t need to pay them back. A grant is a kind of gift that requires particular obligations in the grantee’s part at the same time an expectations in the grantor’s part.