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Am on SSD..Put 5000$ down on a used vehicle.. with a loan at…

Customer Question
Am on SSD..Put 5000$...

Am on SSD..Put 5000$ down on a used vehicle.. with a loan at 334$ for 60 months.. what do I inform Social Security of purchase.. and how do I not have any problems doing it..

Lawyer's Assistant: Have you talked to a SD lawyer about this?

No ..am looking for one..

Lawyer's Assistant: What steps have you taken so far?

Texted you

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

Need to Adress this issue. Finalized purchase of vehicle 1 month ago..

Submitted: 3 months ago.Category: Legal
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Answered in 1 minute by:
4/2/2018
Lawyer: Ray, Lawyer replied 3 months ago
Ray
Ray, Lawyer
Category: Legal
Satisfied Customers: 48,188
Experience: 30 years in civil, probate, real estate, elder law
Verified

Hi and welcome to JA. Ray here to help you today.Please bear with me a few moments while I review your question and respond.

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Lawyer: Ray, Lawyer replied 3 months ago

If you receive Social Security Disability Insurance (SSDI), there is no limit to how many cars you can own. If you receive Medicaid or Supplemental Security Income (SSI), you are allowed to own one car.

Call here toll free at 1-***-***-****. If you're deaf or hearing-impaired call TTY 1-***-***-****.

This will not affect SSDI in any way once you do.

I appreciate the chance to help you today.Thanks

If you can positive rate 5 stars it is much appreciated.

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Customer reply replied 3 months ago
2000$ limit of $ allowed to own when on SSD.. if I report buying a car(5000$ down w/loan). How do I explain the 5000$? Or do I not have to tell SSD?
Lawyer: Law Educator, Esq., Attorney replied 3 months ago
Law Educator, Esq.
Category: Legal
Satisfied Customers: 125,858
Experience: JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law
Verified

Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.

I am a DIFFERENT CONTRIBUTOR here, you opted out your previous contributor.

I believe there is some misunderstanding that you need to clarify for us so I can properly answer you.

You said, I am on SSD. Do you mean you are on Social Security Disability Insurance?

Are you receiving Social Security Supplemental Insurance or SSI?

It makes a difference, because you may be mistaken about the $2000 ($3000) asset rule depending on which you are receiving and we need to know so we know how to answer you.

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Customer reply replied 3 months ago
Am receiving SSD
Customer reply replied 3 months ago
Not SSI
Lawyer: Law Educator, Esq., Attorney replied 3 months ago

Thank you for your reply.

SSD is a payment based on your disability, it is not financial needs based. SSI is financial needs based. With SSD there is no $2000 limit of assets, with SSI there is a $2000 ($3000 for married couple) limit in the assets you can have.

So, you have nothing to report to anyone and SSA will not care about your purchase because there is no such asset limit for SSD, only for SSI.

Click here to read it for yourself: https://www.ilrcsf.org/wp-content/uploads/2012/09/a-Quick-and-easy-guide-to-SSI-SSDI-Eng-9-2-10.pdf

Please do not forget to leave positive feedback by clicking on the 5 stars at the top of your page, as the experts are not employees of the site and get no credit for spending time with customers unless they leave positive feedback. Thank you.

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