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Lane
Lane, JD,CFP, MBA, CRPS
Category: Social Security
Satisfied Customers: 10431
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial, Social Security & Tax advice since 1986
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They say i owe money back to them payment.. if i can come up

Customer Question

they say i owe money back to them for over payment.. if i can come up with some money will they take a settlement?
Submitted: 7 months ago.
Category: Social Security
Expert:  Lane replied 7 months ago.

Hi,

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Yes, IF you can show you cannot afford your basic living expenses.

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If you are still getting benefits, the amount that Social Security will ordinarily take from you each month depends on whether you receive SSI or SSDI.

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If you're not GETTING SSI or SSDI, They'll request the full amount of the overpayment from you, but you can negotiate a repayment plan to pay it back over time. If you don't pay it back, Social Security can take your federal tax return and take other measures.

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What you're asking about is called "Offering a Compromise," by Social Security.

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Offers have to be made in writing. You can use this form SSA-795

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Here are the three criteria they'll be looking for:

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  • show that you are unable to pay off the overpayment in a reasonable time,
  • that the costs of collecting the money from you exceed the amount to be recovered,
  • or that there are factual or legal problems with Social Security’s overpayment case that might keep it from being able to win in court.

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If you can demonstrate that ONE of these apply, then Social Security will look at the terms of your offer. In general, Social Security is more likely to accept an offer to pay at least 60% . And, you have to pay the amount you proposed within 30 days from the date the offer is accepted.

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There's one more possibility, called a "waiver." Let me get that for you.

Expert:  Lane replied 7 months ago.

There's another form: SSA-632-BK

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(Request for Waiver of Overpayment or Change in Repayment Rate).

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If you can’t afford to repay the overpayment, or you would like a change in the repayment rate (how much money is withheld from your SSDI or SSI check), this is the form you'll use.

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There's no time limit on this one ... but it too has criteria that you'll want to be able to demonstrate

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  • to prove that the overpayment was not your fault, and
  • that paying it back would be unfair or cause you financial difficulties.

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They'll ask for proof of your income and expenses here too

Expert:  Lane replied 7 months ago.

I hope this has helped.

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Please let me know if you have any questions at all.

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If this HAS helped, I'd really appreciate a positive rating (using the rating request, faces, or stars on your screen)

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That's the only way I'll be credited for the work here.

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Thank you!

Lane

I hold a JD (Juris Doctorate, a doctoral degree in the law), with concentration in Tax Law, Estate law & Corporate law, an MBA, with specialization in finance & tax, as well as CFP® and CRPS designations. - I’ve been providing financial, Social Security & Medicare, estate, corporate & tax advice since 1986.

Expert:  Lane replied 7 months ago.

I tried to answer the call request, and there was a problem - can I help further here?

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Or if the call is still desired, could you possibly contact customer service?

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We expert users here, (although with our credentials verified), are just users as you are, and don't have access to subscription, pricing, etc. kinds of issues

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Please understand that I'm not being unresponsive.

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Maybe we can continue here until something is fixed?

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Let me know - I'll be here

Expert:  Lane replied 7 months ago.

Hi,

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I’m just checking back in to see how things are going.

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Did my answer help?

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Let me know…

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Thanks

Lane