Monday, August 15, 2011

Helping Hand for Debt Stacked Disabled

Medicine: "Your money and your life!” Karl Kraus

Yes indeed, it’s your money and financial situations that determine your future. Therefore it is very important for people to manage their money wisely so that they do not fall into the debt trap. However, sometimes due to sloppy approaches with your money, you might fail to manage your cash and eventually meet with crisis which might lead to debt burdens. It must be noted that doing away with debts is a difficult task for average people, but it becomes immensely painstaking for a person if he is disabled. It can prove to be very difficult to pay down the debts. But there are laws to protect the interest of the disabled people when they try to pay their overwhelming debts and confront their creditors. They also bear the scope the receive grants and seek help of the debt settlement programs.

Protection of Law:

Defaulting on your credit card debts may compel your creditors to drag you to court. But the creditors have lesser ways to garnish the wages from a disabled person. They are restricted to fetch the debt amounts from deposits like Social Security, disability benefits and pensions. If you are a disabled and receive most of the income from these assistance, you can consistently receive it without being harassed by the creditors.

Grants from the Government:

Look into the available government grants for you. You can browse through the websites like,, which will provide you with a list of grants that the government offers to the disabled people. Although there are factors that determine your eligibility for the grants, yet you are allowed to apply for multiple grants at the same time.

Settling Debts:

Although you may receive all your income from social benefits, yet you might be required to participate in a debt settlement program. In order to do so, the first step should be to stop paying your debts. This convinces the creditors that they might lose the owed amount and hence would negotiate the amount and the rate of interest and lower it to your terms. You can seek the help of a debt settlement company.

Therefore, if you are disabled and are indebted, then instead of worrying take prudent steps so that you can rid it effortlessly and quickly.