How to Stay Cash Flow Positive After an Injury
If you have been hurt in an accident, it may not be possible to go back to work or otherwise make money. However, your creditors will still expect you to make your monthly payments. You will also need to buy food and other necessities. The good news is that there are ways to manage your expenses until an injury settlement comes in.
Service Providers May Accept Payment in the Future
In some cases, service providers will accept payment at a later date if you can’t pay immediately. This is generally true for doctors or other medical professionals you visit during your recovery. Typically, a personal injury lawyer in Las Vegas will take a portion of your settlement after it is negotiated and approved. Other creditors, such as a credit card company or your electric company, may allow you to make reduced payments or pay a balance owed after your settlement arrives.
Sell Assets or Ask Family Members for Cash
If you have old auto parts, dolls or anything else of value laying around the house, it could be sold online for a profit. This allows you to make money without having to leave your home to facilitate a transaction. You can also take out a home equity loan or a personal loan secured by your settlement. If that is not an option, your parents, siblings or cousins may be willing to help you in your time of need.
Focus on Your Recovery
As a general rule, stress makes it harder for the body to recover after an accident. Therefore, don’t spend too much time worrying about that next car or mortgage payment. Instead, focus on getting better and the fact that a settlement may alleviate any long-term financial issues an injury may create.