Are there any government programs that offer debt relief?

Yes, there are several government programs that offer debt relief in Tennessee. The U.S. Department of Education provides student loan debt relief to borrowers. Through the Public Service Loan Forgiveness program, borrowers may be eligible for full loan forgiveness if they have made 120 qualifying payments on any kind of federal student loan while being employed full-time in public service. Tennessee residents may also qualify for the Income-Based Repayment Plan, which allows borrowers to make monthly payments based on their income. The Internal Revenue Service (IRS) also offers a variety of tax relief programs to assist Tennessee residents with delinquent taxes. Through the IRS Offer in Compromise program, taxpayers with large tax debts may be able to settle their debt for less than what is owed. The IRS also has a Fresh Start Initiative which offers tax relief to those who have fallen behind and are unable to pay their tax debt in full. The Tennessee Department of Commerce and Insurance also provides debt relief through its Tennessee Debt Relief Program. This program helps Tennessee residents reduce or eliminate high-interest debt, such as credit card debt, medical bills, and payday loans. The program offers free financial counseling and may be able to reduce or eliminate debt after one to three years.

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Are there any government programs that offer debt relief?

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