With all of the talk about government bailouts and stimulus money, many people wonder about government programs for credit card debt. Do they exist? How can you get help from the government to get out of debt or eliminate credit card debt?

The government doesn't actually create programs to eliminate credit card debt for consumers. If the government helped remove the weight of consumers who are currently swimming in a sea of debt in the form of a bailout of some kind – they would only be doing so in hopes that we'd run right out and start spending again to stimulate the economy. The IRS does recognize some non-profit credit counseling companies and organizations which offer debt management programs and educational opportunities – but there are no government programs that are specific for credit card debt elimination.

There are Federal grants which some people have been able to obtain and use to pay off their credit card debts. Federal grants do not have to be repaid, and so they are not loans or credit of any kind.

How to Apply for Federal Grants for Credit Card Debt

You must meet certain requirements to apply for federal grants, including that you must be a US citizen. You can seek information about governmental grants through CFDA.gov and Grants.gov, which are both maintained by the United States government.

When looking at the different Federal grant programs available, have your financial information handy- things like proof of income, how much you are currently paying for your debts and how much you still owe. When you fill out applications for grants, they may ask additional information to determine eligibility requirements.

Some individuals have decided to start businesses to improve their financial positions. There are many federal grant programs for people who want to start a business – if you can obtain grant money for your business, you can use your business income to get out of debt. Some business grants specify that they can be used to pay off debt, in order to give the individual a fresh start and make it possible to devote time and effort into getting a business off the ground.

Watch Out for Scams

Whenever there is financial desperation in the air – there will be companies and individuals who try to take advantage of it. Only research grant information on government websites to avoid falling victim to scams designed to convince unsuspecting, financially desperate individuals they're going to help them – only to rip them off. Many people get taken advantage of each year through financial scams that seem like the perfect way to get out of debt and start a new, debt-free life. If it sounds too good to be true, chances are – it is! Do your research with government programs if you hope to find a federal grant to help eliminate your credit card debt and don't fall victim to scams which will only leave you further in debt.