Why You Should Avoid Pension “Cash Out” Agreements if You’re a Disabled Vet

by Staff Blogger | December 22nd, 2014

Soldiers who have been left permanently disabled as a result of injuries they sustained during their service to our nation are often entitled to veterans disability benefits; however, these payments may not be enough for many to make ends meet—especially in the San Francisco area where the costs of living are some of the highest in the nation.

These financial struggles may force many disabled veterans to consider using a service that would allow them to “cash out” their pensions or other disability payments. It’s important for veterans to know this may not be wise though, as the contracts that are used to bind these agreements are often not designed in favor of the veteran.

According to an article from the Sacramento Bee, the contracts may contain stipulations that require veterans to pay multiple fees and commissions that, in the end, result in a disabled individual receiving far less money than their pension or payments were worth.

If you’re a disabled veteran and have found yourself struggling financially, the team of California personal injury attorneys with Berg Injury Lawyers wants you to know that there are other options available. Some of the resources you may have in your area include nonprofit organizations that can offer work or financial assistance. You may qualify for grants and other benefits, such as Social Security Disability benefits or Supplemental Security Income as well.

We hope these tips help to get you the financial assistance you deserve.