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HELP WITH DEBT PAYMENTS

CONCLUSION 

     Consider your options carefully when deciding how and where to turn to for assistance in making payments on your debts.  If you’re in a situation where you require financial assistance to do so be careful not to rush into applying for consumer based interest filled “debt payment” options, like credit cards, payday loans, personal loans, debt consolidation loans, and other interested focused options that will only add to your debt instead of decreasing it.

     When you take a step back for a moment to complete a personal inventory of your financial situation, and develop a wise plan of getting out of debt.  Your personal reflection will save you much wasted time, misused money, and frustration in handling your debt payments.  Unlike popular consumer belief there are available funds out there you can apply for to assist you in your financial journey of getting out of debt, without bury yourself further into it.

 INTRODUCTION

     This article covers some non-traditional resources you can apply for or use as alternative payment solutions to receive financial assistance you require in making payments on your personal debts without going more in debt to pay your debt. 

     There are United States Federal and State options you should consider based upon your own personal circumstances you can apply for to use as tools to help yourself out of debt, or at least to help you make payments on debts you owe.  These are researched options to apply for to assist you in alleviating the burden of your debt, so you can focus on having funds available no matter the amount of debt to use towards paying on them. 

     These debt payment options include at some point if you purchased them, or you forgot they were accessible, depending upon on your personal circumstances.  It is worth applying for them to see if you have these options available.

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UNITED STATES (US) SAVINGS BONDS

     If you know you have US Savings Bonds available, these are U.S. Treasury securities you or another family member bought for your or was purchased on your behalf, and are officially in your name.  There are several types of US Savings Bonds such as, Series A through K with differing issue year increments.  Each series has a specific span of years they were issued since the early 1900’s till today.  The more current

     Savings Bonds are E and EE series.  Some people have US Savings bonds purchase them for the intention of various savings purposes.

    Though if you’re in a circumstance where you need to make a payment on a financial debt quickly, you can possibly cash out your savings bond, and use towards paying on your personal debt.  By applying cash from your US Savings bonds you won’t need to apply for personal loans, pay day loans, and debt consolidation loans. 

     Your US Savings Bonds can be used as a financial resource available to you that you may not have thought of using if this circumstance applies to you in helping you get funds to use to pay your debts with accordingly.  For more information on US Savings Bonds and the differing types please reference, https://www.treasurydirect.gov/indiv/research/indepth/other/res_othersecurities.htm, see far left hand side for additional series of bonds within this site, as you never know, you may have purchased or have been purchased for you by immediate or other close legal sources in your name.

      You can follow instructions from the US Treasury Direct.gov website at https://www.treasurydirect.gov/indiv/research/indepth/ebonds/res_e_bonds_eereplace.htm to further apply to cash your US Savings Bond as it may apply to you.  There’s additional helpful information within this site pertaining to US Bonds that may apply to you depending on your circumstances, if you know or may not know if you have US Savings Bonds.  Either way, encourage you to take the time to look into this.       

      There may be an untapped financial resource available to you to use as cash to assist you in making payments towards your debts. 

If you know you have existing US Savings Bonds that are or may be Lost, Stolen, or destroyed you can submit a Fiscal Service Form 1048, Claim for Lost, Stolen, or Destroyed United States Savings Bonds.  Form 1048 and instructions are available at https://www.treasurydirect.gov/forms/sav1048.pdf

     Another non-traditional resource to locate possible unused funds to help you make payments on your debts is from “Unclaimed Money”.  Unclaimed money includes Federal and State Tax refunds that for whatever reason were not paid to you that you may be entitled to.  Sometimes there are errors that occur or oversights in tax returns that can cause “Unclaimed Money” circumstances for you.  This is a good resource to tap into because you don’t have to use additional debt to help yourself make payments on your debt. 

     Depending on your tax circumstances and amounts of refunds not refunded back to you it’s worth your time in looking into this.  Whatever the amount owed back to you that amount will save you in the end, whether the “Unclaimed Money” is for example $50 or over $100, that’s money not out of your pocket and you can use to make a payment on your personal debts.

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US GOVERNMENT, UNCLAIMED MONEY INFORMATION

     Below are government agencies that have databases you can search for unclaimed money that may pertain to your life circumstances.  These sites do take time to go through while carefully reading through their individual instructions in how to apply for each possible refund you may be entitled to. 

     Remember the goal here is to help you identify NON-ADDITIONAL DEBT related resources that can help you generate funds to help you acquire cash resources you can use to make payments, or possibly pay off your debts.   This route is better than using additional debt resources like credit cards and personal loans to pay your debts, which only increases your debt situation.  By using cash-based resources, you don’t go further into debt at all just to make payments on your personal debts.  

     Below is a brief description of what these United States Federal sites are about and their direct weblinks to get started searching to see if you may have unclaimed funds available. 

     Keep in mind if in the past you had established any of these types of specific accounts before.  Even if you do not remember, it’s worth looking into, maybe you have some funds established in these specialized accounts that you forgot about, or did not realize you had.

     The main United States government website for unclaimed assets is found at https://fiscal.treasury.gov/unclaimed-assets.html.  Within this link are additional below US government agencies that provide individual resources you can apply for each unclaimed asset type.  Provided is a brief description of each resource to help clarify what each is about.

1.  Treasury Hunt: Unclaimed U.S. Securities and Payments, https://www.treasurydirect.gov/indiv/tools/tools_treasuryhunt.htm       

Site Description:

What is Treasury Hunt?

“Use this online tool to help determine whether:

  • you or a deceased loved one owns either savings bonds, registered Treasury notes, or registered Treasury bonds that have matured and stopped earning interest. Note:  Information on matured savings bonds is available for those issued in 1974 or after.
  • you haven’t received interest due to you for a Series H or Series HH savings bond.
  • you haven’t received payments due to you from Legacy Treasury Direct.” (treasurydirect.gov, 2020)
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2.  HUD/FHA Mortgage Insurance Refunds, Department of Housing and Urban Development (HUD), resources page of HUD link: https://search.usa.gov/search?affiliate=housingandurbandevelopment&affiliate=housingandurbandevelopment&query=HUD%2FFHA+Mortgage+Insurance+Refunds

     You can use this link to search to see if applicable you may have HUD/FHA Mortgage Insurance Refunds available.

     Description of HUD: “The Department of Housing and Urban Development is the Federal agency responsible for national policy and

programs that address America’s housing needs, that improve and develop the Nation’s communities, and enforce fair housing laws.” (HUD.gov, 2020)

3.  Credit Union Unclaimed Shares

     National Association of Unclaimed Property Administrators link: 

     https://www.ncua.gov/support-services/conservatorships-   liquidations/unclaimed-deposits

     You can use this link to search to see if applicable you may have any Credit Union Unclaimed Shares available if you know you have established accounts with a Credit Union, or if you don’t remember and possible had.

     Description: Unclaimed deposits, “when a credit union with federal insurance is liquidated, the NCUA’s Asset Management and Assistance Center is responsible for paying the share accounts to the members.” (ncua.gov, 2020)

     Besides the United States Federal Unclaimed Money resources possibly available to you.  You can also do some research on your own regarding your own states unclaimed money resources that may be available also.

  One resource in particular you can start with on a state level is, The National Association of Unclaimed Property Administrators’ website www.unclaimed.org is an excellent resource.         

     This association consists of state officials charged with the responsibility of reuniting lost owners with their unclaimed property.  A suggestable intent with this option, again depending on your personal circumstances if this may apply to you. If you do find out you have an unclaimed property, you could depending on the condition of the property, possibly sell the property, and depending on the circumstances use whatever profit you may gain from sell, apply that cash amount to your personal debt.

     For more helpful resources to assist you in giving you real insight into achieving debt freedom, and to live the life you are meant to live, please visit DebtFreedomLife.com.

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