Ask an Expert
Debt Reduction Programs
Expert: Dan O'Connel
For information on governments grants or loans on debt reduction, if there is any such thing.
Dan O'Connel answered:
Resources for grant programs dried up ten years ago due to government cutbacks. While there aren't programs available for debt reduction another option available to you is to consolidate your loans. Consolidation would allow you to stretch out the terms of your loan and reducing your monthly payment.
If you have already exhausted all of your options and feel that you need another loan
you could try contacting the AOC. They provide loans to small business owners who are
unable to get funding from traditional sources, such as the bank.
About the author
Dan O'Connell is the Branch Manager of the Red Deer office of the Alberta Opportunity Company. You can find the AOC at www.aoc.gov.ab.ca.