If you have been in a serious accident that leaves you unable to return to work for the time-being, times can seem very gloomy. It’s hard enough to deal with the physical aspect of an injury and work at recovering, never mind having to worry what you will do about money and income in the meantime. Keeping a roof over your head and food on the table should be the least of your worries during this time, but the fact is that it is a reality.
So what are the best ways to cope with financial difficulties after an injury? Here are some tips you can use.
Contact a Personal Injury Attorney
Depending on how and where you were injured, it may make sense to contact a personal injury attorney. If you were injured through no fault of your own, from the negligence of another person or company, then a personal injury attorney can help. They can file a claim for you and work on getting financial compensation which will make things much easier on you financially. This compensation will then cover your medical bills, surgery, lost work, etc.
Because your attorney will be looking after all the paperwork and legal issues, you can focus on getting better.
Call Your Creditors
It’s a good idea to contact your creditors to see if they would offer some sort of payment plan that works better for you at this moment in time. This could mean a lower payment, lower interest, or even suspending payments for a couple of months. You’ll want to do this as soon as possible before you start missing any payments.
Create a Budget and Prioritize Expenses
The next step should be to create a budget where you will prioritize your expenses. This will give you a clear picture of how much you are short, or how much you have left at the end of each month.
Use Available Credit or Savings
If you have savings or available credit, now is the time to make use of them. Obviously they weren’t intended to cover you during an injury, but the fact is that the funds exist for emergency situations and this is just that. You can work on paying it off later, or replacing that savings at a later date. Your immediate needs are what matter at the moment.
Simplify Your Lifestyle
This could also be a time to simplify your lifestyle. If your recovery will be a long process, then downsizing could be wise. A smaller place means less area to care for and clean, and it also means cheaper living expenses. You may also choose to sell your car and use public transit, or just trade your car in for something less expensive and more practical.
There Are Ways to Cope
When you find yourself facing financial difficulties after an injury it can be a scary and very dark place. It’s important to know that there are ways to cope with these issues, and there is help out there.