How Do You Pay Your Bills if You Are Sick?
There is a little idiom, “health is wealth”, which means much more if you have ever experienced a life changing, or long-term illness. You would give anything just to feel and be better.
Having a life changing illness is enough in itself, but add to it the worry of how you will pay the bills, pay your debts, and live, just makes the illness worse.
And few of us do not have any bills to pay, or some debt.
So the big question is, how do you pay your bills and debts if you are not working due to illness?
Check Your Eligibility For Benefits
No on wants to go on benefits, but they are there for a reason. And if you have worked and paid into the tax base and national health insurance fund, you are entitled to certain benefits, and indeed should use them.
Anything you receive may not be enough to cover all your expenses and debts, but it will help, and help cover your basic expenses, rent/mortgage, utilities, and also food.
You cannot live well on benefits, usually, but you can live.
PPI/Payment Protection Insurance
Check your accounts for any payment insurance or PPI. You remember the huge PPI scandal a few years back, the miss-selling of PPI.
Payment protection insurance is insurance to pay your account payments should you not be able to work. And being sick is one of the top reasons for not being able to work on most of these insurance policies.
You may have the insurance on an account and not even realise it was there. Contact the lender or bank and inquire.
Speak to Your Creditors
While you are speaking to the bank or lenders you owe money to, also inquire about what assistances they may have to help you.
During the Covid pandemic, many lenders allowed account holders to make token payments, or they were given payment holidays.
This can be a way to have some breathing space and not worry about the accounts while you are being treated or recovering from an illness.
What About My Credit Score?
When you are facing a long-term illness or life changing sickness, the last thing you should worry about is your credit score. Taking a breathing space or anything you do to an account, such as make payments less than the agreed amount, will affect your credit score.
But why worry about it.
You need to concentrate on getting better.
Being ill and struggling with or being in debt can be stressful, but it does not have to be. You need to change your mindset, and seek out the assistances that are there.