Have An Illness That Is Devastating You Financially? Know How You Can Deal With The Debt
If you are suffering from an illness that is making it difficult to work, it can cause you to have added stress when you are struggling to pay the bills. There are ways that you can deal with the situation that you may not be aware of.
Get Social Security Disability Income
If you have been employed and earned the proper amount of credits towards social security, you may become eligible to receive SSDI. The process starts by finding out if your disease will be covered by SSDI. Some of the include diseases are:
- Cardiovascular problems
- Respiratory problems
- Mental illnesses
If your illness does not fall under the list of qualified conditions, all hope is not lost. You can use the assistance of an attorney to prove that your illness is making you unable to work, which will help you become qualified.
Discharge Debts From Student Loans
If you are qualified to receive SSDI due to a permanent disability, student loans that you still owe money on can be discharged. This can help reduce the amount of debt that you owe to relieve the financial burden. You must file an application and prove that your disability is permanent, but once approved, you will have less debt to deal with that you're not able to pay.
File For Bankruptcy
The debt that you incurred due to the injury may be crippling you financially, with no way to pay off the debt in the foreseeable future. Drastic action may need to be taken to get the creditors off your back. Consider filing for bankruptcy to give you the fresh start you need, which is done by discharging all the unsecured debt that you have that is related to medical bills.
It is recommended to meet with an attorney to find out which form of bankruptcy will work best for you. Chapter 7 bankruptcy may be recommended, because there is not a cap to how much debt will be discharged that is medical related.
Facing a devastating medical illness is hard enough as it is, but the debt that results from it can be just as tough to deal with. By using any of these methods, it can help reduce how much money you owe when your inability to work is preventing you from paying off debts. For more advice, meet with a lawyer (like Timothy W Hudson Attorney ) to know what legal paths you can take to reduce debt.