Social Security Disability isn't always easy to get. The application alone can be intimidating, and while you're waiting for a decision, it can be stressful and overwhelming. When you add to that the financial struggles that often come from the loss of work, it can be a difficult time. If you're wondering how you will cover the bills while you're waiting for your disability decision, you're not without options. Here are a few things to consider when you're trying to make ends meet.
Use Your Short-Term Disability Coverage
If the company you work for offers short-term disability insurance for employees, you might be able to cash in those benefits while you're awaiting a decision. This type of insurance is designed to replace a portion of your income for a short period. Most short-term disability insurance offers you payments for several months, so check the policy terms to see how long you'll have benefits.
In addition to employer-provided short-term disability, you may also have a policy through your personal insurance carrier. In addition, some states also offer state-funded disability insurance that extends coverage for people who are waiting for federal review. Your disability attorney can help you find out if such a fund exists in your state.
Cash In Your Credit
If you have a good credit score, that may be all you need to get through the review process. Talk with your bank about a short-term loan or a line of credit to help you cover the bills while you await a decision. If you have a credit card, that may even give you some extra funds to utilize.
As a homeowner, you have another alternative. You can work with a lender to obtain a home equity loan if there's value in the house, or you can refinance your home so that you can take that added cash to meet your financial needs.
Generate Your Own Cash
Even if you can't go to work, there may be other ways to generate cash to help you get through. For example, yard sales are a great way to reduce clutter and get some extra cash. In addition, there are many freelance work sources online that may allow you to capitalize on your skills from home.
If you're struggling with finances during your disability application process, you should talk with your Social Security Disability lawyer. He or she can help you to find other methods of meeting your bills.