The Department of Education announced last week that it will cancel $5.8 billion in student debt for a particular group of individuals – those more than 320,000 borrowers with a total and permanent disability. As this is our constituency of clients often, we are thrilled to hear this.
This is great news for individuals who took out student loans to advance their education and careers and are not able to repay the loans. The debt forgiveness will be granted using data from the Social Security Administration, and people will start seeing relief in September. The Education Department also plans to stop asking these borrowers to continue sharing earnings data once they receive relief, according to a recent article from CNBC.
For those who are disabled, getting this financial relief, and not having to worry about paying student loans when you can’t work because of a serious disability, will relieve a tremendous amount of stress. It’s our hope that the Education Department’s decision will make life better for these 320,000 individuals.
We can only wish that disability insurance companies would have a sudden change of corporate policy and consider providing the same kind of blanket relief to the hundreds of thousands of Americans who can’t work because of an illness or injury and counted on their disability insurance coverage to replace their income? That is surely a wish only a genie could grant.
The disability insurance attorneys at Frankel & Newfield talk with people every day who are battling a physical or mental disability that has made it impossible for them to work. The stress of what will happen to them and their families if their disability insurance company denies their claim is enormous.
Imagine yourself so sick you can’t get out of bed, yet you need to somehow to manage a huge amount of paperwork, including obtaining medical records, constantly submitting insurance forms, and navigating an endless series of re-routed calls through an insurance company’s frustrating telephone system. Add to that burden a strict time limit to respond to an insurance company’s request for information and an appeal that, if not approved, could permanently shut down your disability claim and your financial future.
This is where Frankel & Newfield comes in. Our long term disability clients place their trust in our aggressive representation. When we are retained, our team takes on all the tasks, from going head-to-head with the insurance company and the claims management company to interacting with treating physicians and diagnostic facilities to managing any kind of surveillance, or other investigative tools which the insurance company might undertake.
Our clients can focus on their health. We deal with the rest.
Frankel & Newfield understands how much is at stake when a disability claim is denied. We encourage people to speak with us before they file a claim, which is the better time to prepare a claim that can be defended against the insurance companies’ enormous claims denial system.
We also work with claimants after their claim has been denied and they need to file an appeal.
Frankel & Newfield works with claimants when their disability claim has been terminated.
We have a great deal of experience with negotiating a settlement, that is, when the disability policy allows the claimant to receive a one-time final payout. When this is handled correctly, it can provide tremendous relief for the claimant to never ever have to worry about investigators knocking at their door, demands for medical examinations, or filing annual paperwork. The biggest risk in negotiating a settlement is taking a low-ball offer out of desperation. We counsel our clients so they can decide based on hard numbers, understanding what their disability policy is worth and what they need to live on.
If you have questions about your disability claim, call us at 877-583-2524. The call is free, the advice could be life-changing.