How To Cope Financially With A Devastating Illness

If you have been struck with a devastating illness like fibromyalgia, multiple sclerosis, or something else that greatly interferes with your ability to work, this can heap on more stress that you don't need. However, there are several good ways to cope with this situation.

Getting SSDI

Social security disability income payments are available to persons who have earned enough credits in the last ten years by being employed, to be eligible for assistance from this government program. To find out if you qualify, go to the social security website to see if your condition/illness is listed. Even if your problem is not listed, you still may eligible if you can show that your condition prevents you from being able to work, and that this condition will likely persist for 12 months or more.

Sometimes it is difficult to get the Social Security Administration to award you SSDI, and you may need to hire a lawyer who specializes in this area like Banik & Renner to represent you.

Considering Bankruptcy

If you have a lot of debt, you may need to consider some drastic action to give you relief from creditors calling and threatening you. Chapter 7 bankruptcy will give you a fresh start and help you to get rid of much or all of your unsecured debts that you are unable to pay. You will have to simplify your life, but that may be just what you need at the current time.

Taking Care of Student Loan Debt

Interestingly, if you qualify for SSDI, and your disability is considered permanent, any student loan debt you have through the federal government can be discharged. You will need to provide proof of disability to the US Department of Education. If the amount is large, there may be a substantial tax to pay, but this may be offset by your credits and exemptions. You will need to talk to a tax preparer to find out if this is the case.

If the taxes are enough to be a burden, you can arrange to consolidate your loans and enter an Income based repayment program (IBR). If you have declared bankruptcy, you can also discuss with your attorney the possibility of getting your student loan debt discharged in a separate procedure called an "adversary proceeding."

Obtaining Other Help

Some of these things may take time to accomplish. If you need immediate help, check with local health clinics that provide free or sliding fee scale services to the public. Often these places have a social worker you can see by appointment who will help you to find local resources.

You have paid into the system, so when you need it, you should not be afraid or too embarrassed to use it. See your county welfare office or apply online for the SNAP program, utility, and housing assistance.

Conclusion

When you are faced with a medical illness that prevents you from working, apply for SSDI. If you have trouble receiving needed benefits, contact a SSDI attorney for assistance and also consider debt relief through bankruptcy, if you can no longer pay your debts. Contact state/county relief agencies to receive immediate assistance for necessities.

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