3 Ways To Recover Financially From A Workplace Injury
Wednesday, December 6, 2017, 6:00 PM | Leave Comment
A workplace injury can be devastating not only physically, but also financially. For many people, missing work means they may not be able to pay off their expenses or meet their budgetary requirements, particularly if the injury causes them to miss significant time.
However, this doesn’t mean that your only choice after an injury is to wait it out; there are a variety of paths you can take to help you get your finances back on track.
Here are three ways to recover financially after a workplace injury:
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Refinance Your Home
One potential way to lower your overall costs is to look into home refinancing after an injury.
Depending on your circumstances, you may be able to refinance your home to a lower rate that allows you to afford other monthly expenses if you’re forced to miss work due to injury.
There is also the option of refinancing with a thirty-year plan, which stretches the payments out over thirty years to reduce your monthly costs. This can be a big financial move, so consider the option carefully before deciding to refinance.
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Sell Off Personal Assets
If you need money quickly in order to pay off debts or afford monthly costs of living, selling off some of your property is often the quickest and easiest way.
Selling lightly-worn clothes you rarely wear, books you’ve read, CDs or DVDs can get you bits of cash quickly, and you should also search your belongings for old records, vintage clothing, antiques and other items that may fetch a large sum from collectors or online.
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Contact A Personal Injury Lawyer
Perhaps the best move you can make after a workplace injury is to hire a lawyer experienced in personal injury and workers’ compensation cases.
Many firms, such as Oxner + Permar, LLC, specialize in both personal injury and workers’ compensation.
By hiring an experienced firm, you can take advantage of their legal expertise to try to receive compensation for the time you miss due to injury.
You will have to pay to hire their help, but if you receive compensation it’ll be well worth it.
When you’re forced to miss work due to a workplace injury, don’t panic. By employing these strategies, you can reduce monthly costs and come up with extra cash to help you recover financially.
Whether you need to refinance, sell off personal assets or hire a lawyer for a compensation case, you can always find a way to get by until you’re able to work again.
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