Three consumers in two states were all apparently watching the same late night infomercial. The advertisement claimed it was easy to get government grants to pay everything from mortgages to credit card debt. “I can’t believe it,” Kevin McCarthy of New York said. “All these years, I’ve been getting up and going to work. I guess all I needed to do was ask Uncle Sam.”

Like McCarthy, a New York woman admitted she was intrigued. “But I want to know if this is a worthwhile investment before I spend $37.99 for this book,” she said.

Let me make this as simple as I can. Is it worth buying the book? No. Any information it contains can be found on the Internet or in the public library. As I’ve warned before, promises of inside information about money from the government may sound tempting.

However, obtaining government grants and loans is challenging and complex. With the exception of money designated for students, most government funds go to non-profit organizations or universities. There is very little available for individuals who simply want to start or expand a business, unless it’s a business focused on research and development or high technology. Even then, the process is highly competitive. As for getting money to pay off your credit card bills, forget about it.

In early 2004, the Federal Trade Commission filed suit against a New Orleans-based company that promised to secure grants for consumers. The company, operating as US Grant Resources and National Grants, and its owners, John and Laurel Rodgers, advertised they could get consumers grants pf $500 to $500,000, “satisfaction guaranteed.”

In reality, the FTC alleges, consumers were charged a processing fee of up to $200, typically received nothing more than a list of grant prospects that almost never panned out and had difficulty getting refunds.

Howard Beales, Director of the FTC’s Bureau of Consumer Protection, said consumers should keep in mind that most sources of grant money have strict eligibility requirements. “The government does not give individuals money for nothing,” he said.

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