Facts to Consider When Looking Forward to Disability Social Security Benefits in Bellingham WA

For people who have been struggling financially because of a disability, the possibility of being paid Social Security Benefits in Bellingham WA may feel like a wonderful dream. They’ve paid into the system for years, and now that they can no longer work full-time, they would like to receive that monthly benefit check so they can afford to pay off debt and live a bit more comfortably.

Paying Down Debt

Consulting with a professional financial adviser may be a good idea when the person applying for Social Security Benefits in Bellingham WA plans to use the money to pay down debt. If money has been a problem for some time, a budget that addresses all routine bills should be crafted.

A savings account is important to prevent going into debt again because of emergencies. Making any overdue payments on the mortgage or the car is an essential step, but fully paying off other debt may need to be done more gradually.

The financial adviser can help the client devise a logical strategy for paying off credit cards, instalment loans, and any other outstanding obligations. One effective method involves making all minimum payments each month and then using all the money left over to tackle the account with the highest interest rate. That tends to be a smarter strategy than paying off the smallest account first no matter what its interest rate is.

Understanding the Application Approval Process

In addition, it’s important for people to understand that the majority of applications are denied the first time, with the next step an appeal of the denial. Hiring an organization such as Allen Law Firm to assist with the initial application increases the chances it will be approved and the lengthy appeals process can be avoided. The governmental agency has complicated guidelines that can be very difficult to understand and adhere to when applying.

The application process along with appeals can take many months or even a year to resolve, which may leave the applicant in dire financial straits. Once the application is finally approved, back payments are made to the time of the first attempt at qualifying for benefits, but those months without the benefit checks can be extremely stressful.