www.taxprofessionals.com - TaxProfessionals.com
Posted by Cypress Tax Solutions

How To Ask For Financial Assistance

How To Ask For Financial Assistance

Due to the insurgence of the COVID, many people have found themselves in situations that are beyond their control which results in them seeking financial assistance. There are different situations that require one to look for assistance because being in debt can be very overwhelming and devastating, so many people resort to seeking  financial assistance either from friends and family or the Government.

There are different reasons many seek assistance, which could be to offset business debts when they are bankrupt, or to pay for utility bills, rent, pay tuition fees and even start a new business. However, the best place to look for financial assistance is from the Government because of the reduction in the interest either on a loan or may be given to you, freely.

The majority of people only seek financial assistance without gaining clarity on their basic need for assistance, which is the reason why even if they are given a loan to pay back, they may not be fruitful with it no matter the amount. Before applying for financial assistance, ensure you have a focus and know what exactly you want to use it for. Get clarity; know the actual amount you need before moving forward.

Financial assistance can come in different forms, so you must understand the one you need at that present time. Financial assistance could be in terms of grants, scholarships, reduction in school fees by giving you a percentage discount loan, if it's from the Government. You could seek financial assistance from family and friends as well.

You should note that if you are not collecting financial aid for college purposes, then your tax payment doesn't affect your financial aid even if it's a loan. Tax only affects your income as an individual or an organization.

One of the major ways people seek financial assistance is by writing a formal letter to the organization they are asking for assistance. In writing your letter, you must be succinct and direct; many don't have much time to go through what you have written. 

Meanwhile, there is a need for you to be polite and respectful in your writing and to avoid an entitlement mentality as you are asking for their help so you will have to play based on their terms and conditions. You will need to know every detail about who you are writing to and his or her address and give all due respect.

If it's financial assistance for health related issues, you may be asked to write a letter stating your health condition, the bills you want to clear off and the kind of treatment you need with solid evidence attached to the letter. This will enable them to verify your application before offering to help.

In addition, you must be up to date with every information released by the organization or the Government based on the financial aid applications and submissions. Many have lost valuable opportunities because of their lack of exposure.

Also, ensure you do every necessary registration and application online; get everything you are asked to get to meet up with their requirements. Don't assume anything and ask questions about what you don't understand then you are more likely to get the financial assistance you are seeking.

Asking for financial assistance is what many people have resorted to, either because their situation is overwhelming, and they may not be able to handle it by themselves. Some reasons you can decide to seek financial assistance, are for rent, utility bills, health-related issues, food and child support.

Ensure you have all your evidence ready to back up your letter and applications because these organizations, and even the Government, will want to verify the validity of your request, as anyone can apply for financial assistance and get it, provided they qualify.


FOR MORE INFORMATION OR TO SEE HOW CYPRESS TAX SOLUTIONS CAN BEST HELP YOU WITH YOUR TAX FILING NEEDS, PLEASE CLICK THE BLUE TAB ON THIS PAGE.


THANKS FOR VISITING.

Cypress Tax Solutions
Contact Member