The current economic recession in America is taking its toll on everyone, but the nation's low-income population is especially vulnerable to its devastating effects. Not only is there a general reduction in working hours, but cuts in the pay of those who are still fortunate enough to be employed is making matters worse. This drastically minimizes their chances of making debt repayments, or making debt repayments on time and in full. Consequently, penalties for late debt payments increase, and coupled with the rise in interest rates, it becomes even harder to keep head above water.
Fortunately President Barack Obama takes to heart the well-being of America's working population and is coming to their aid in a big and generous way. His administration realizes that American citizens need all the help they can get to be economically productive and creative, and this means, among other things, not spending time worrying about how they are going to settle their ever-increasing debt. With the aid of federal grants for debt relief, Americans can legally erase most of their accumulated debt, and focus on the things that matter in their lives. What's more, those who apply for and receive the grants do not have to worry about incurring more debt, as it does not have to be repaid, ever!
In order to get their share of these monies, applicants have to be American citizens over the age of 18. Even if you, as an applicant, have a bad credit history, you could still qualify. You can also apply online, but do it now, and begin to put an end to a seemingly hopeless situation of a debt-ridden life.
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