Social Security Disability income is the only way that some disabled individuals can support themselves. Filing for the benefits doesn't mean that you will automatically get it, however. Instead, there is a good chance that you will receive a denial of benefits the first time that you apply.
Extending the automatic stay
Bankruptcy affects entities large and small. While individuals filing for bankruptcy is far more common, major cities around the state of Illinois have had to cut essential services to pay for pensions and other vital services.
Chapter 13 bankruptcy has debt limits
Some people know a Chapter 13 as the "wage-earner's bankruptcy." This is because it is reserved for individuals who can afford to make regular payments to the bankruptcy trustee. The money goes toward paying off creditors, and the payments continue for three to five years.
Social Security programs for disability vary some
The Social Security Administration (SSA) has two programs that help people with disabilities to make ends meet. These are the Social Security Disability Insurance (SSDI) program and the Supplemental Security Income (SSD) program. While they serve similar purposes, these are two very different programs.
Take control of your finances with bankruptcy
The thought of having to file for bankruptcy doesn't set well with some adults because they take pride in paying their bills. The thing to remember is that bankruptcy is a tool that enables you to take control of your finances when circumstances spiral out of control. This is typically a better idea than having to string creditors along with promises of payments that might not come or that might be less than you promised.
