Every year during the second week in November, we acknowledge our debt to the veterans who have served our country with pride and dedication. We also need to acknowledge that the sacrifices they made, too often have led to more difficult economic circumstances for them and their families.
Veterans often face financial instability due to challenges like unemployment, service-related disabilities, and difficulty transitioning to civilian life. As a matter of fact, Veterans are more likely to be out of the labor force than nonveterans, and they earn about 12% less on average, which can contribute to financial strain.
A contributing fact to disproportionate economic challenges for veterans is that they are more likely to experience mental health issues compared to the general population, particularly conditions like PTSD, depression, and substance abuse disorders.
As we acknowledge our debt to veterans, we also need to acknowledge the debt many of them have incurred related to problems arising from their service. Veterans tend to carry more debt than non-veterans. A National Debt Relief survey found that three-quarters of younger veterans are still paying off debts incurred while serving. And, to make matters worse, 91% of veterans believe that debt worsens their PTSD symptoms, highlighting the emotional toll of financial stress.
While there are federally funded programs to help veterans deal with economic hardships related to their service, they face obstacles including delayed VA payments for tuition, housing, and healthcare reimbursements often forcing veterans to rely on credit or loans. Even with VA coverage, veterans may face copays, out-of-network bills, or costs for non-covered treatments. Although the GI Bill has provided a path to higher education, GI Bill benefits don’t always cover full tuition or living expenses, especially for dependents.
In spite of our best intentions, veterans face economic struggles that too often result in too much debt. There is a gap between the services provided to help struggling veterans and the economic relief they need. At the Van Horn Law Group, we understand the spiraling-down effect accumulated and overwhelming debt has on quality of life, mental health, and family stability.
While government programs can help, many veterans turn to debt relief attorneys for additional support when benefits and reimbursements fall short. Our firm’s veterans debt relief lawyers are dedicated to helping those who have served our country regain financial stability and peace of mind.
We’ve helped many veterans get free from debt and make a true fresh start. We are honored to offer our debt relief legal services to veterans at a discount, in recognition of the debt we owe them for theirs.
Chad Van Horn
Van Horn Law Group
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