Personal Finance Tips

When looking to repay personal credit card debt, probably one of the most overlooked options to consider is government grants. A lot of people never search into these grants basically because they simply have no idea about them. However, the government puts aside billions every year just for this purpose, to this money. Should you be among the list of millions of people who are plagued by credit card debt, you definitely need to consider applying for a grant with your government. These grants can be obtained, the secret is finding them.

When you are ready to talk about debt relief, you should fully understand that there are ways to take you out of this debt. It is up to your efforts to seek out the assistance that you would like and deserve to have. All of us get involved in trouble now and then with our financial situations. However, when the help is available why not make the most out of it.

In terms of unsecured credit card debt elimination these grants make good sense. This really means that these grants are much easier to obtain compared to traditional loans. Some form of security deposit or collateral may be required for loans. Since they are offered by the government, grants never require these. The federal government is eager to boost the economy by rendering small business grants. In this case you can apply for and receive a grant for several thousand dollars; you’ll be able to eliminate your debt utilizing the money earned in your own business to pay the money off.As a way to receive the grant, those responsible for processing your application will have to evaluate your situation. To put it truthfully, they are going to be looking at many things. First, they are going to be looking at whether or not you should have the opportunity to pay back the money you already owe with the grant. Then they will take a look at the debts you currently have, and lastly at your financial ability to repay whatever you owe and are still take care of your current debt.

If possible you can offer proof that you will never be able to pay back this grant, and the money should likely be yours to keep. These grants are able to do many positive things for you. They can provide you with a debt relief solution by providing money to you without having to ask for security or collateral. These grants can also help to prevent you from being required to claim bankruptcy. No repayment is required as this is classified as a type of financial aid. It also must not be taxed and cannot gain any interest either. Finally, it can instantly move you out of your current debt situation. This is not true for many other kinds of debt relief solutions. Receiving a government grant is a very sensible option when you’re swimming in debt that you cannot beat.


If you are in a situation where you are dealing with problems of continuing distress and regular absences from work, you may be forced to retire due to ill health or this may be recommended by a doctor. You need to be aware of your options and the procedures that need to be carried out in order for you to plan for your ill health retirement. You should seek professional help from a financial advisor in order to obtain figures and facts on your pension calculations and monies that you will receive. You may want o consult your employment union if available if you are forced to take retirement from ill health due to having an accident or injury on the job.

Gather necessary medical evidence

Before you make an application for ill health retirement, you need to gather necessary medical documentation. You will need reports from your own health care doctor as well as occupational health doctors, hospital specialists, or consultants who are in charge of your health care.

This can be a long process in establishing what you will be eligible to be paid out for when you take an ill health retirement. If you are experiencing a life threating or very severe illness, this process can be shortened.

If you are leaving work and are thinking of taking an ill health retirement, you will likely be able to remain on full salary for a period of up to six months. However this depends upon how long you have been working for your employer. You may be able to claim sick pay for a period before taking a leave of absence pay, this can help to extend your income. Again, the level of benefits that are paid to you will depend on your current salary and work regulations. You may need to submit regular statements that confirm your medical status and your inability to work.

If you are responsible for paying a mortgage, it may be a good idea to renegotiate the repayment terms. If possible, check into getting coverage for mortgage payments in the event of ill health retirement before you actually apply for it.

Can you work after ill health retirement?

You can work after ill health retirement and still receive benefits provided that you find suitable alternative employment. You should check the criteria that pertain to you in terms of what is allowable after you are receiving any kind of government or previous employment place benefits or pensions. You will not be permitted to do a similar job if it is going to interfere with your health condition. You may risk losing your financial assistance if you violate set conditions. Check with your pension agency regarding these questions. You may very well be able to make a suitable income for you and your family through a combination of pension money and part time income. Get the opinion of your health care provider and talk things over with your family as well as a financial planner. Only then will you be able to make the best decisions regarding your ill health retirement plan.