Wood Dale, IL (PRWEB) September 17, 2010
Finding reprieve from mounting debt is a pressing concern, so much so that some have fallen prey to certain debt help companies who promise significant relief, for a price. DestroyDebt.com, an education resource and forum for consumers seeking information about how to get out of debt, is directing consumers to reputable resources of information and solutions and warning consumers to watch out - the offer being presented may not be what it seems to be.
A search on the internet will yield an attractive array of potential companies that are eager to point you in the right direction when it comes to debt relief. Many web sites feature government grants that can be taken advantage of. The question is, are these companies taking advantage of you?
Does the government really grant funds to taxpayers in order to assist them with their debts? How legit are these debt help companies?
The truth is that government debt relief grants and assistance for debts can be found, but it takes some digging and it is rarely if ever for credit card debt. Any site that pledges immediate consolidated relief through one large payment directed to you through the government or state is likely offering a controversial but effective debt consolidation program known as debt settlement.
There are government sites however that can give useful advice if finding a grant for your debt problem is in fact your only option. Check it out for yourself. As a starting point, go to the source,http://www.usa.gov, and search the keywords 'debt relief.' You will find links on credit card settlement, information on unscrupulous advertisements promoting debt relief, and learn how to search for free money and grants.
Government grants are available for both individuals and businesses. The Small Business Administration offers many grants for first time entrepreneurs and struggling business owners. Scholarship grants are available to students to assist with loans. Health care expenses from unexpected medical emergencies quickly pile up. Government grants can be found through the Department of Health and Human Services and private health grant foundations.
Home foreclosures are consistently one of the biggest reasons individuals turn to outside debt assistance. Many banks are willing to work directly with their consumers, and under the Housing Stimulus Plan, the government has mandated lenders to collaborate with homeowners so that mortgages can be refinanced under agreeable terms and loan modifications made to prevent rising foreclosures.
Liabilities owed to the Internal Revenue Service also carry increasing penalties and interest. Because of this, balances owed to the IRS can quickly become unmanageable.
The subject of tax relief is monopolized by countless companies that promise personal representation and “pennies of the dollar.” Unfortunately, many of these so called tax accountants and attorneys provide services to taxpayers that are made directly available by the IRS.
In fact, there are no special programs available to third party CPA’s, lawyers or anyone else that are not obtainable to a taxpayer directly. Before you pay any debt service handfuls of money under the pledge of a massive cutback on your tax bill, contact the IRS directly and speak to them about their Offer in Compromise program. Any outside agency that assures ‘one time tax settlements’ is only charging you for the same compromise program that taxpayers can submit themselves.