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Key Steps Can Help with Financial Impact of Disability
Date:7/15/2008

Allsup provides insights on improving cash flow and financial resources, including Social Security Disability Insurance benefits, when individuals must stop working because of disability.

Belleville, IL (Vocus) July 15, 2008 -- Someone can become disabled in the blink of an eye when an accident happens or from a gradual onset of chronic illness. Then the financial blow hits—the instant someone realizes that he or she can no longer work. Successfully dealing with the financial impact of a permanent disability is a challenging but essential task , according to Allsup, which represents people nationwide for Social Security Disability Insurance benefits (SSDI).

“People often have this defining moment when they realize their disability represents a permanent change in their life and their lifestyle,” explained Paul Gada, a tax attorney and personal financial planning director for Allsup. “There’s no sugar-coating the fact that money is going to be in short supply, and they have to evaluate their financial options.”

Lost income can lead to many hardships, including bankruptcy or home foreclosure. “The most important step early in the process is to get a grip on your situation,” Gada said. “The goal is to remain financially independent for as long as possible.”

Early Step: Apply for SSDI

One early step is to apply for Social Security Disability Insurance ben
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Source: PRWeb
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