Permanent Disability Advance: The Benefits and Costs

When on Permanent Disability, it can be difficult to make ends meet.  Payments are often only enough to cover the necessities, and only come monthly (sometimes even less frequently). A permanent disability advance provides one possible option to get more money up front, but it is important to understand what you may gain or lose by getting such an advance.

What Is a Permanent Disability Advance?

By definition, a Permanent Disability Advance is when you can get a large payment from Disability Services that will give you funds in advance of when you are scheduled to obtain them.  This means that if you are owed money in the future from Permanent Disability Services, you can obtain your funds sooner in a lump sum, onetime payment.  You can volunteer to get a Permanent Disability Advance by contacting Social Security.  This is often done by people who need to pay debts or medical bills.

What Are the Benefits of Getting a Permanent Disability Advance?

There are many advantages to getting a Permanent Disability Advance:

• If you have outstanding, large bills that you want to pay off on time, such as medical bills, mortgages, or other large debts, it might be worth it to get a Permanent Disability Advance. 
• In truth, even if there is a loss or fee associated with your advance, you can save money that you will have to owe your other debtors. 
• You will have a large amount of money on hand that will help you take care of your outstanding financial responsibilities without worries.

What Are the Costs of Getting a Permanent Disability Advance?

Although there are a lot of pros to getting a Permanent Disability Advance, there are also a few cons to keep in mind: 

• First, you might be charged a fee for requesting and receiving a Permanent Disability Advance. 
• You might also be docked with a loss in funds – if you request to get money early, such as enough for three months of your Permanent Disability at once, you might only receive funds for two and a half, never to make those funds up again. 
• Furthermore, getting off of your payment schedule can cause personal stress and financial hassle, since somewhere down the line, you will not be receiving your regular personal disability check. 
• The fees and losses may vary, depending on your situation and your usual payment plan.

Most people will advise to avoid a Permanent Disability Advance  because of the costs and stresses involved in the process.  However, if it is necessary for you to continue to live free of outstanding of emergency medical bills or other important expenditures (such as your home mortgage), then consider speaking to a Social Security Officer about the Advance program.  You can find contact information, and often details about how to ask for a Permanent Disability advance, on your Official Award Letter.

Getting Help

Before deciding to get a permanent disability advance, you should consult with your disability attorney. Your attorney can assist you in reviewing any offers or documents and can make sure that you are treated fairly in getting a permanent disability advance.