Dealing with Disability and Debt by Karen Pritchard

So Christmas is over. We all possibly felt the pressure to spend more money at that time of year, increasing our money worries.

Having a disability can make us more vulnerable to debt, more so in this current economic climate. Either we struggle to borrow money or we turn to our friends, family or other means.

Increasing your income
The first step is to look at your income. Being disabled you may have additional costs, for instance, paying for carers, making adaptations to your home or the extra travel costs in attending hospital appointments. Not all people claim their full entitlement as the stress and hassle of this can be too much to bear. Some aspects of disabilities may make it more difficult for a person to manage their money well. Your disability may entitle you to financial help with some of these areas to ease your debt problems. Denise Boyall, the NMC support worker, can point you in the right direction.

Reducing your debt
So many of us push aside our concerns when it comes to debt. We may find it extra difficult to cope with facing this issue as we focus on other aspects that are directly affected by coping day to day with our disability, but as with anyone, ignoring the issue will only worsen the situation. Even if your income is low or you don’t have a job, there are steps you can take to help.

Contact your lenders
This is an important step if you get into difficulty repaying your debt. They won’t waive your debt but they may help you renegotiate your borrowing and could reduce the money you need to pay back each month to a more achievable level. If you have loaned money from friends or family try to discuss your difficulties with them. It may help them to understand your situation. Although this can be difficult it is best to be upfront about it.

Determine your budget
Total up your weekly or monthly earnings, as well as any benefits you receive, along with everything you spend money on during this period. Identify non-essential areas where you can cut back on your spending. Determine how much you spend on your accommodation, secured debts that could mean you losing your home, council tax, utility bills, food and anything that relates to your disability. Pay for these expenses first and then see how much money is left over for other items including unsecured loans. Don’t consider borrowing money to pay off your existing loans. If your expenditure exceeds your income seek advice about managing this situation.

Ask for help
Speaking with an impartial debt advisor will allow them to tailor a plan to your individual needs to help clear your debts. It is also very important to seek advice on whether you are receiving all the financial assistance that you are entitled to. Professional advice on dealing with your debts is always available free of charge from the contacts below. Once you face the reality of your debt and get the help you need, you have taken the first steps to taking back control of your life.

Useful contacts
National Debtline: www.nationaldebtline.org Tel: 0808 808 4000 www.gov.uk/options-for-paying-off-your-debts/ overview Step Change: www.StepChange.org