There is a third option this option is usually over looked or known by its more common usage a student grant. This grant is given to an individual, couple and small business owners for debt relief and as with a student grant; it does not to be paid back. There are obligations to be met by the applicant, this is not a gift. The applicant must show financial necessity government agencies will look at the current income, the percentage of income going to debt payments and so forth. After the applicants have qualified for the Grant Program assistance, they will be required to show proof that the money is being spent for what it was intended use. These reasons can be as diverse as health care bills, consolidation of debt and repayment of debt from a startup company.
Given the alternatives for debt relief, the Grant Programs for Debt Relief is by far a better choice to get a person back on their financial feet. With the burden of debt off the individual they would able to retrain for another career and start at an entry level position and have the chance for a better quality of life.
***Update***
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Source: http://www.articlealley.com/article_1092971_19.html
Source: http://www.articlealley.com/article_1092971_19.html

