Sometimes people receive more money than they are entitled to. When Social Security realizes there has been an overpayment, the beneficiary will have to give it back. SSA collected 100% of the benefit to recover the overpayment.
However, this left many Social Security beneficiaries in a really difficult financial situation. That could prevent them from being able to pay mortgage, bills or even buy food to eat every day.
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SOCIAL SECURITY CHANGES DEALING WITH OVERPAYMENTS
From now on, the Administration will only collect 10% of your retirement or SSDI benefit when there is an overpayment. In this way, recipients can still have some money and the budget will not be so tight.
Undoubtedly, there is a massive difference between giving back 100% and just a 10%. Losing the full amount of your payment could leave many recipients at risk forcing them into homelessness.
Of course, you will not be able to benefit from this new measure when there is fraud. This new measure is for new notices, but those giving back money for overpayments can do something about it.
SOCIAL SECURITY RECOMMENDS DOING THIS IF YOUR BENEFITS ARE WITHHELD
The Administration said that there will be a transition period. Nevertheless, it will not last for long. If you are still suffering the old policy of 100% withholding, you should call SSA.
The phone number Social Security has given for this purpose is 1-800-772-1213. Once you call, you need to inform them you would like to lower the withholding rate of your retirement or SSDI benefits.
If it is a new overpayment, the new changes will apply to it automatically. Another possibility to lower your overpayment withholding is to visit the closet Social Security office in your area. Last but not least, it will be possible to apply for a lower than 10% rate if you can pay it back within 60 months. Beneficiaries only had 36 months to pay it back previously.