Credit Card Debt & Loans

Debt And Disability: Financial Resources For People With Disabilities

Debt And Disability: Financial Resources For People With Disabilities
Reviewed by Nima Vahdat
Updated February 7, 2024

Financial vulnerability is a common experience for people with disabilities since they often lack the resources to pay for or recover from unexpected expenses.

Navigating financial challenges can be particularly daunting for individuals with disabilities. 

According to a National Disability Institute (NDI) report, people with disabilities frequently encounter extra financial hurdles owing to the increased costs associated with their disabilities. 

These costs might include more extensive healthcare needs and expenses for equipment necessary for independence. 

Concurrently, studies indicate that people with disabilities typically find it difficult to secure employment and have lower incomes compared to those without disabilities. Statista reported that in 2022, the unemployment rate of people with a disability was at 7.6 percent, which is more than double that of those without disabilities. 

This disparity makes managing everyday living expenses more challenging. Recognizing this, Americor, a leader in debt relief solutions, is committed to providing information and resources to aid those in this situation. 

This guide provides various financial resources available to people with disabilities, offering guidance and support for managing debt and securing essential services.


  • Understanding Financial Aid – Awareness of the various programs available can significantly alleviate financial burdens for the disabled.
  • Access to Essential Services – Programs offering food, housing, and medical care are crucial for maintaining a stable living situation.
  • Navigating Debt Solutions – Knowledge of debt relief, settlement, and consolidation can provide paths to financial stability.

Disability And Financial Vulnerability

According to the Centers for Disease Control and Prevention (CDC), approximately one in four Americans lives with a disability that impacts their cognitive functions, vision, hearing, mobility, or their ability to live independently.

Persons with disabilities often face unique financial challenges, including increased medical expenses and limited income opportunities. 

Understanding the connection of debt and disability is the first step towards financial empowerment.

Eligibility Requirements For Financial Assistance 

To qualify for financial assistance, it’s crucial to understand the eligibility criteria. 

While requirements can differ based on the specific program and organization, typical factors include the following…

Disability Status

Financial assistance is often available to individuals with verified physical disabilities or medical conditions that significantly hinder their ability to work. 

Disability benefits provided by the SSA and other government bodies can act as proof of eligibility.

Financial Need

Most financial assistance programs focus on aiding individuals facing low-income or financial hardships. 

Criteria such as income limits and guidelines might vary depending on the organization offering the assistance. 

Key factors like family size, monthly expenses, and the debt-to-income ratio are usually considered to determine financial needs.


Applicants might need to submit various documents, including medical records, proof of income, identification, and other relevant paperwork to verify their eligibility for financial assistance. 

Organizing these documents beforehand can help make the application process more efficient.

Resources For Food, Housing, And Medical Care For Disabled Persons

Let’s take a closer look at some of the programs that provide financial assistance to disabled persons and their families.

Housing Voucher Program (HVP)

HVP aids low-income families, the elderly, and the disabled in securing safe, affordable housing in the private market. 

A product of the Department of Housing and Urban Development (HUD), it provides vouchers to help cover the cost of rent, ensuring access to suitable living conditions.

Housing Choice Voucher (HCV) Homeownership Program

This program enables families holding housing vouchers to purchase and own their homes. It converts rental vouchers into mortgage payment assistance, offering a path to homeownership and long-term housing stability.

Eligibility for the HCV homeownership program requires applicants to fulfill certain criteria, including specific income and employment conditions (though the employment requirement is waived for elderly and disabled families). 

Participants must be first-time homeowners as defined in the regulations, complete the mandatory pre-assistance homeownership and housing counseling program to the satisfaction of the Public Housing Agency (PHA), and adhere to any other eligibility requirements established by the PHA.

Social Security Disability Insurance (SSDI) 

SSDI provides financial support to folks with disabilities who have made contributions to the Social Security trust fund through FICA taxes. 

This insurance offers a vital income source for those unable to work due to disability. Should you be eligible for SSDI, you could receive monthly payments that assist in easing financial strains and offering relief from debt.

Achieving a Better Life Experience (ABLE) Savings Accounts

ABLE accounts are tax-advantaged savings vehicles that allow people with disabilities to save for qualified expenses without losing eligibility for essential public benefits. 

ABLE accounts and programs are established and administered by individual states. These accounts can cover various disability-related expenses while maintaining benefits like Medicaid and SSI.


Medicaid offers comprehensive health coverage to eligible low-income individuals, including elderly adults and people with disabilities. 

Medicaid covers medically necessary emergency room, inpatient, and outpatient services, often at little or no cost to the beneficiary.

Low-Income Home Energy Assistance Program (LIHEAP) 

LIHEAP offers financial assistance to more than 6 million low-income families struggling with energy bills. 

The targeted program offers support for regular bill payments and emergency services during energy crises, such as heating or cooling emergencies.

Temporary Assistance for Needy Families (TANF)

TANF, a federal initiative, offers financial aid to families with low incomes, encompassing those with disabled members. 

Eligibility requirements and monthly amounts vary by state. Those who qualify might receive cash benefits, job training, childcare support, and additional assistance services.

Supplemental Nutrition Assistance Program (SNAP)

SNAP, formerly food stamps, provides nutritional assistance to low-income individuals and families. 

The program helps supplement the food budget, allowing beneficiaries to purchase healthy food and work towards financial independence.

The calculation for benefit amounts considers the monthly income minus 30 percent, which is the contribution expected by the government for family upkeep. In 2023, the maximum benefit for a family of three was set at $740 per month, with the average typically around $577.

VA Disability Benefits

Veterans who have disabilities stemming from their military service are eligible for tax-free monthly disability benefit payments from the Department of Veterans Affairs. 

These benefits help in managing living expenses and debts, providing financial stability to disabled veterans.

The VA categorizes the level of disability on a scale from 10 to 100 percent. 

In 2022, the benefit amount was $152.44 per month for a 10 percent disability rating and $3332.06 for a 100 percent disability rating with no dependents. 

The rates vary based on the disability rating and the number of dependents. To calculate your specific benefit amount, you can use this VA disability calculator.

How To Stay On Top Of Your Credit Card Debt

Staying on top of debt, especially when you’re disabled, involves several key strategies:

Make Minimum Payments if Possible

Even if you’re struggling financially, try to make the minimum payment on your credit card. This can alleviate the burden later, especially if your interest continues to accrue despite any financial assistance from credit card companies.

Scrutinize Your Bill For Errors

Review your credit card statements habitually for any inaccuracies. If you spot an error, promptly notify your credit card company

They have 30 days to acknowledge and up to 90 days to investigate and respond. During this period, they cannot demand payment for the disputed amount or report it as unpaid.

Regularly Check Your Credit Reports

You can typically review your credit reports for free once a year by going here.

Currently, major credit bureaus like Experian, TransUnion, and Equifax are offering weekly free checks. 

If you’re adhering to a credit card relief package, ensure that the company reports your account status accurately. Dispute any errors you find, and keeping a copy of any relief agreement can be helpful.

Understand Your Rights Regarding Debt Collection

In situations involving debt collection, verify the legitimacy of the collector. You have rights, including the ability to work out realistic repayment plans. Collectors cannot harass or mislead you and must adhere to legal standards of practice.

Final Thoughts About Financial Resources For People with Disabilities

Navigating the financial landscape with a disability can be challenging, but several resources, as you’ve seen above, are available to help. 

Understanding these programs and how they can assist in managing living costs, healthcare, and food security is key. 

Additionally, exploring debt relief solutions can further enhance your financial stability.

At Americor, we understand the importance of managing your finances wisely. 

As America’s trusted source for debt relief solutions, we aim to empower you with financial knowledge that can lead to informed decisions, whether it’s about savings, investments, or managing debt.

If your debt has become unmanageable and you have difficulty making your debt payments each month, then you should consider a free consultation call with one of our certified Debt Consultants, who can provide personalized advice tailored to your specific needs.

By taking proactive steps today, you can put an end to your financial stress and work towards a brighter financial future. 

Remember, there is always hope for debt relief, and our team of experienced professionals are ready to guide you on your journey to regaining control of your finances.

For more information on Americor’s debt relief services, contact us today to see how we can help you eliminate your debts, and get on the fast-track to becoming completely debt-free!