Despite the speed at which highly regarded lawyers work to secure their clients the settlements they deserve, there can still be a period of time when you’re left trying to figure out how to pay your bills. Your illness or injury may mean you’re unable to work, yet your financial obligations don’t cease. As stressful as this situation can be, there are many options to explore:
Medical Provider Liens
If you have lung cancer and are working with a lung cancer lawyer to receive a settlement from the company responsible for causing it, you usually don’t have to wait too long. However, if you’re still receiving medical treatment and need to pay for it, ask your healthcare provider about a medical provider lien. This is when doctors agree to provide treatment and receive payment from your settlement later. It can be an ideal option for those who need ongoing medical care but lack the means to fund it.
Pre-Settlement Advance
Personal loans aren’t always recommended due to how much they cost. However, in some situations, lawsuit or settlement funding, known as a pre-settlement advance, can be worth exploring. A pre-settlement advance is a cash advance based on the settlement you expect to receive. No upfront payments are required, and you repay it when you win or settle your case. You can use a pre-settlement advance to cover daily expenses, medical costs, bills, and rent. As convenient as they are, it’s worth noting that they have high fees or interest rates.
Negotiations
Hospitals, credit card companies, banks, and utility providers all expect to be paid for the products and services they provide. However, they and many other businesses are also open to negotiating during temporary hardship.
Ask them about the options available while you wait for your settlement to arrive, such as no interest or repayments. The temporary reprieve can be a weight off your mind, especially when you don’t want to take out a loan and are worried about non-payment affecting your credit score.
Charities and Relief Programs
If your work-related illness is stopping you from covering your everyday costs, seek help from charities and relief programs. For example, if you’re waiting for a settlement from a company that caused your lung cancer, you might ask about financial assistance options from the American Lung Association, CancerCare, or similar charities. While not all charities offer financial help, they can point you in the direction of helpful resources.
Government Programs
Various government programs are available to help cover medical bills, treatment-related costs, and daily living expenses. If your condition prevents you from working for at least 12 months, you may be eligible for Social Security Disability Insurance, which provides a monthly income. You may also be able to receive expedited application processing.
If you’re a low-income patient with limited resources, Supplemental Security Income (SSI) may help cover your basic needs. When you need help covering your healthcare costs, talk with your healthcare provider about Medicare and Medicaid.
Managing your money while you wait for a settlement for your illness or injury can be stressful. However, you’ll breathe a sigh of relief when you learn about the many ways you can cover your everyday living costs and medical bills. Don’t hesitate to explore these financial options above while your lawyer works hard to secure the compensation you deserve.
