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Do you qualify for Social Security Disability benefits?

There is a long list of medical issues that you will want to review if you believe you might be eligible for Social Security Disability benefits.  To qualify you must prove your disability prevents you from engaging in substantial, gainful employment.

SSD applications can be complex, and the government may deny your claim the first time around. However, this should not discourage you from appealing to obtain the benefits that are due to you.  Talk to an attorney who is experienced in appealing these cases.  There is no cost unless you win your case.

Important points to remember about Social Security Disability

The Social Security Disability Insurance (SSDI) program is meant to help provide workers who suffer a catastrophic injury or illness with an income while they are unable to work. This program has very specific requirements to help ensure that only those who truly need the benefits are approved.

Many people might think that this program is only for older Americans; however, you can't use SSDI if you have reached full retirement age, so this program is meant for those who are still of working age but unable to work due to disability. Only those with a disability that is expected to last at least one full year are approved. The only exception to this is if the applicant has a condition that is likely to lead to their death.

Bankruptcy is a financial tool for people drowning in debt

The financial struggles that some individuals face can be hard to handle. When you are in this position, you need to think carefully about your next steps. One thing that you can't do is ignore the debt. It isn't going to go away. Instead, creditors might transfer the account to debt collectors. Your credit score will be impacted by the missed or late payments.

Many people will try various options for handling their debts. Some may take out loans to consolidate the payments. Others might attempt to work out deals with their creditors. These might work in the short-term, but there is a chance they aren't feasible for the long-term.

Know which disability programs to make application for benefits

If you become disabled, you are going to have to navigate the complex world of disability payments. The Social Security Administration (SSA) handles these benefits through two distinct programs. Each of these has its own requirements. It is imperative that you understand them so that you know to which programs you need to apply. The Supplemental Security Income (SSI) program is for people who have limited resources and income. This program includes children who are disabled. You don't have to have any work history to qualify for SSI. However, you do have to be diagnosed with a condition that meets very specific requirements. You also will have to pass a means test. For SSD benefits you must prove you are disabled and have paid into the system through prior employment.  Our office can help you navigate this system in your attempts to get disability benefits.

Personal bankruptcy can help those who are too far in debt

The holiday season is here, which means that many people are going to feel pressure to purchase gifts. Even though you want to show others how much you care for them, it is imperative that you only make purchases if you can truly afford them. Unfortunately, it is easy for you to become overextended with your credit during this time of year.

If you realize you are overextended and the stress is too much to bear, give us a call

to schedule a free, initial consultation to determine whether bankruptcy can help.

What you need to know about retirement accounts and bankruptcy

Many people worry about what is going to happen to specific assets if they have to file for bankruptcy. This is completely understandable since they worked hard to obtain and maintain the things they have. One thing that is especially troublesome for some is their retirement account.

The good news is that you won't lose your IRA or 401(k) in the bankruptcy proceeding. These are considered exempt assets, which means they can't be liquidated to be used to pay off your creditors. This is a positive point for people who know they need a secure retirement.  It's important not to liquidate the retirement accounts while you are trying to stay afloat.  Talk to an attorney.  It may be a better strategy to not touch the IRA or 401k before bankruptcy.  You can then discharge your debts and still have the retirmement accounts available after filing.

Disability payments are often hard to start

The Social Security Disability (SSD) system is here to help disabled individuals who are unable to work and earn money for themselves. These individuals have put in the time necessary and paid into the system, so they should be able to reap the benefits of their hard work. Unfortunately, this isn't the way things always happen. It is sometimes difficult for people who need disability to receive the benefits that they should.

We are here to help those individuals get the benefits that can help them better their lives right now. You don't deserve to have to languish in financial uncertainty when the SSD system should be helping you.

Should you file for bankruptcy before or after the holidays?

This year, many retailers have a reason for concern this holiday season. Sears recently ran into financial trouble, and the company has tried to remain above water at least through the holiday season. 

You may have your own financial problems to deal with this year. With the holidays right around the corner, you may wonder whether it is an optimal time to file for bankruptcy. Timing is everything when pursuing this course of action, and you should seriously consider filing for bankruptcy before the holidays arrive.

Benefit increase coming for Social Security in 2019

People who receive Social Security benefits are going to see an increase in their checks this coming year. The Social Security Administration (SSA) recently announced that the cost of living increase for 2019 is 2.8 percent. This is based on the current inflation for the country as a whole.

The average benefit check will increase by around $39 per month, which equates to $468 for the year. This is the biggest increase that recipients have seen since 2012 when it went up 3.6 percent.

Act quickly to reclaim your financial future

When you file for bankruptcy, your creditors will likely have to forgive some of the debt that you incurred. This might trouble you; however, you should remember that it is better for them to know now that they won't get that money than to leave it on the books. You are being financially responsible by admitting that you are in over your head.

We know that sometime there are events that lead to financial difficulties. Unexpected illnesses can lead to time off work and costly medical bills. These two factors, combined with normal bills, can create a perfect storm that decimates your finances.