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dylatess
dylatess, Attorney
Category: Legal
Satisfied Customers: 5145
Experience:  37 plus years representing clients with their legal issues
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I receive Social Security Disability for a child. Someone

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I receive Social Security Disability for a child. Someone told me that if I got a secured loan it would help me establish credit. They loaned me the money to get a secured loan. I got the loan and gave them back their money the same day I received the loan. My bank account showed the amount of the loan as if I had that amount of money in the bank. Even though I had no access to it and could not take it out. The Bank froze the money. They would only release what I paid. So when I paid $100 they would then release $100 into my account. I basically took that same amount of money and paid the loan each month until the loan was paid back. Social Security now says they over paid my child because I as the parent had assets that were over the limit. which was the amount in the bank account. Since the account was frozen and I could not use that money can it still be counted as an asset for my child's Social Security Disability?  Also can Earned Income Credit that is received from filing Income tax be counted as assets for Social Security Disability if it is deposited into your bank account?  Can you own a house if you receive Social Security Disability for your child?

Hello and thank you for your question. For over 34 years I have answered questions just like yours. And I look forward to assisting you.

Thanks for your questions. Note, you are asking three different questions. If you could reply with the question that you would like answered, I would be happy to assist you.
Customer: replied 4 years ago.

Yes it is 3 different questions. Sorry, they are all about Social Security Disability.


1. Can the parent own a house if the child receives Disability?


2. Is Earned Income Credit that is received as a refund from Income tax be counted as assets for social Security Disability?


3. This is my main question about the bank account being counted as assets for the parent if the money was frozen and not available to the parents for use?


 


Should I have asked these questions in 3 different post on here?

Please choose your question as you must post each question you want answered.
Customer: replied 4 years ago.

Ok...Thanks for clearing that up. I thought Since they were all related to disability that I should lump them together in one post. I will post the other 2 questions in another post.


 


 


I receive Social Security Disability for a child. Someone told me that if I got a secured loan it would help me establish credit. They loaned me the money to get a secured loan. I got the loan and gave them back their money the same day I received the loan. My bank account showed the amount of the loan as if I had that amount of money in the bank. Even though I had no access to it and could not take it out. The Bank froze the money. They would only release what I paid. So when I paid $100 they would then release $100 into my account. I basically took that same amount of money and paid the loan each month until the loan was paid back. Social Security now says they over paid my child because I as the parent had assets that were over the limit. which was the amount in the bank account. Since the account was frozen and I could not use that money can it still be counted as an asset for my child's Social Security Disability?


 


 

The SSA's position on the amount of assets you can have is not very fair. But liekwsie, though it has been challenged, their rule remains. That is, you cannot at any time have more than $2000 in assets. And it does not matter whether you have access to the money or whether it was frozen. Sorry. You do have to pay back the money. thanks for understanding. Please rate my answer ok or better. You can also request me directly by putting "for dylatess" at the beginning of your question for the other questions. Thanks.
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