Federal grant money for debt consolidation of credit card debt is how to use government grants in one of the best ways possible. You can save a lot of money using this assistance by reducing your payments and your interest rate.Federal Money For Debt ConsolidationYou can get a big advantage while discovering how to use government aid to recover from a huge debt. This Federal program for debt consolidation of credit card debt may give you enough funds to cover 30 to 85 percent of your total unsecured debt. Even better, this assistance may be paid to you in one lump sum, without any repayment or credit check required.When the government officials use the term unsecured debt, it means the debt created by using your credit card, that is not backed by assets or collateral. Usually, the debt relief government grants will focus on helping with unsecured debt. Secured debt is obtained by a bank holding ownership to one of your assets, or collateral, but is not the primary focus of these assistance.Pay Off Your Debt For LessAlso, you might be able to bargain for a consolidation putting all your card’s balances into one reduced payment to pay everything off. Alternately, if this does not work, you may want to offer a lump sum credit card payment, to have your interest rates lowered on every card. A credit counseling service can help with bargaining for a pay off. To get lower rates, they can use a mutually accepted agreement for regular lower payments over a specific time.With the credit card companies losses increasing due to many people becoming unemployed and going bankrupt, they are more than willing to accept less to at least, get some of their money back.Debt Consolidation Instead Of More PaymentsWith a $35,000 credit balance at 12 percent interest, monthly payments may be about $550. But, let us say that in the last 2 months you could not make payments. Then, the credit card companies have hiked up your interest rate to 21 percent, almost doubling it. You also have received 40 dollar late fees which will be added every month until you catch up on every payment. Now, your debt is growing uncontrollably and extending payments any further is impossible. A Federal grant money for debt consolidation can stop this, before you are at the point of bankruptcy that is your worst option.