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Social Security

U.S. OASDI social insurance system funded by FICA payroll taxes and originally created by the Social Security Act of 1935

3,984 Questions

Are Social Security retirement benefits the only Entitlement Program benefits where individuals and their employers directly contribute money for that sole purpose?

I think the answer is no. The reason I say I think that is because that's not quite exactly how Social Security really works, and if that statement is true of Social Security it's probably also true of, say, unemployment insurance and in some states state disability insurance.

How would a credit card company know debtors only income is Social Security and cannot levy a bank account?

One option is to retain legal counsel, who will then contact the creditors, informing them of the persons financial status. If a creditor files suit the debtor then files a list of their entitled exemptions, (SS benefits, homestead exemption, etc). In some cases a creditor may try to levy the account looking for funds that have been combined. This is why it is very important to only have SS benefits in the account. The court must be convinced of the existence of combined funds, before the writ of execution will be granted. Even then most banks will refuse to release the money. If SS benefits or other exempt funds are seized, the debtor has grounds for a lawsuit against the bank and the creditor.

How is social security different today than it was in its beginning?

Social Security today is different from its beginning in several ways. Firstly, the original Social Security Act of 1935 provided only retirement benefits, while today it also includes disability and survivor benefits. Secondly, the eligibility age for retirement benefits has increased from 65 to 67. Lastly, the program has evolved to account for changes in society, such as the inclusion of same-sex couples and increased focus on cost-of-living adjustments.

Our 18 year old son opened a credit account in his name and social security number when he lived with us in 1992. He attended school away from home. Somehow his name got changed to my husband's.?

Debts are linked to social security numbers. Unless your son opened the account using your husband's information, its still tied to your son. Your husband can demand verification of the debt, but if it is more than 7.5 years since DLA (date of last activity) it should drop off anyway. Give me more information about this.

Can a collection agency get a jugdment on social security disability in Michigan?

I have discussed this with dozens of people in the collections industry over the years. If a collection agency is telling you that they are going to get a judgment on your social security or disability income... IT IS A SCARE TACTIC Social Security and Disability are "protected classes" and are NOT suit worthy in ANY state. You are still obligated to pay the debt, it's just that the law protects you from a creditor trying to take food off of your table to pay the debt. You need to find another way to resolve this. Rid yourself of the deceitful caller. The next time they call you: 1. Remain calm under all circumstances. Do not allow yourself to become manipulated or drawn into an argument. This is important. It is better to calmly terminate the call than to become emotionally involved and say something you may regret later (especially if the call is recorded and goes to court). 2. Tell the caller that the call may be recorded for "quality purposes" (that will usually get them in the right frame of mind if they do not want you to sue them for harrassment). 3. Request their mailing address. 4. After getting their address, tell them you will have your legal counsel forward correspondence to that address. Politely end the call. Do NOT discuss any of the content in step 5 (below) with the person you speak with at the collection agency. 5. Send a letter to their address with the words "CEASE AND DESIST" prominently displayed near the top your letter. In the letter, demand that they cease and desist all calls and correspondence to your residence immediately or you will seek all legal remedies against them including (1)all remedies available under the Fair Debt Collections and Practices Act, (2) filing a complaint with the Federal Trade Commission and (3) reporting their collection agency to your State Attorney General for harrassment . These steps will usually stop the phone calls and mail from the collection agency. When you send the letter to the collection agency, your account will probably go back to the original creditor. The original creditor may pursue legal action against you. (in view of the SSA/Disability issue -highly UNlikely-but possible) You might consider trying to work this out with the original creditor by mail (they're not going to talk to you by phone now). Offer a repayment plan, if you can, and define the scope of your terms in your letter. It's a good idea to send your first payment with your letter. Be certain to send it "return receipt requested" and keep a copy of your letter for your files. Word your letter such that when the bank endorses your enclosed check, they accept your new terms. This is a tactic that often works since correspondence about an account and payments typically go to two different bank addresses. The payment processing center will just process your check for payment, disregarding your letter (and the new terms). If your account ever goes to litigation, you have a copy of your letter changing the terms of your credit card account AND a signed receipt showing that the bank signed for a copy of the letter AND you have your returned check that the bank endorsed. Whatever happens, the creditor will know to tread lightly where you are concerned because you obviously know more than the average joe. Check with legal counsel in your state. I am not an attorney.

Can a bank charge NSF fees to people with only social security income I have death benefits for my 3 children and I am on disability. I lose about 400 per month in fees.?

Yes, a bank can charge nsf fees to anyone they want to. You may want to check with other banks, and ask about their nsf policies. THE BANK CAN CHARGE NSF FEE TO THE PRESIDENT OF THE US.

What do you do if comcast says my social security number belongs to someone else?

What you need to do is bring your social security card and a picture ID to your local Comcast office and prove that you are who you say you are. Also, if someone else is currently using your social (people make them up all the time when they call in just to get service so it is possible) I would suggest filing a report with you police station. The office should be able to assist you with this. Plus they have the right to shut that other account down immediately.

Will an interim work permit authorization give you a Social Security number?

No. You would need to apply at the Social Security Administration for a social security number.

Can I collect my IRA savings if I am over 59 years old and collecting Social Security Disability?

You can begin withdrawing from your IRA without penalty starting at age 59.5. Under normal circumstances, you would have to pay an early withdrawal penalty of 10% if you do not wait the extra 6 months after you turn 59.

Is your student identification number the same as your social security number?

No. Your student identification number is provided by your school or university and this is how the university recognizes you.

Your SSN is a number provided to everyone who is employed and earns an income by the US government. This is how the US government recognizes you for tax reasons. Due to the universality of SSN, many private companies, including credit companies, now use it for recognizing you as well.

Will social security benefits stop if the knee is replaced?

Are you still disabled?

Not if you are at full retirement, but if you are on disability SS, you may lose benefits if you are no longer disabled.

Do you pay into social security out of unemployment benefits?

Put the question another way: "Do you pay into social security for unemployment benefits?"

The answer is this: "It depends on whom you ask. Some people do; others don't. For those who don't, they have separate retirement plans or financial plans."

What are private benefits and social benefits?

Private benefits are the economic gains from exerting influence on a company by large shareholders at the expense of other,smaller shareholders. A social benefit would be a service provided to the community of society as a social conglomerate. For example, the benefits of a Fire Department.

Can a bill collector ask for your social security number?

They can ask, but you do not have to answer, and you should never give out your SS# to anybody, especially a bill collector. You are not required by law to give your number to any bill collectors.

Can you collect Social Security and work part time in Maryland?

It makes no difference which state you work in or whether you work full or part time, you can collect Social Security and work at the same time. What DOES matter is how old you are when you apply, how much you earn, what income counts, etc. as any other claimant for Social Security benefits. See the Related Link below for more details.

Do they need your social security number for inheritance?

Yes. The person/custodian is responsible for that inheritance/money including taxes. They need your social security number to report the dispersal of funds to the IRS to no longer be responsible for the tax liability of those funds. Depending on the current inheritance laws / the dollar amount could have a large / small / no tax liability.

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