Social Security

Ask social security questions and get answers ASAP

Ask an Expert,
Get an Answer ASAP!

This answer was rated:

It's about SSI: I already receive SSI, as I am disabled 56…

It's about SSI: I...

It's about SSI: I already receive SSI, as I am disabled 56 year old. My case is going to be reviewed soon. I receive 800.00 a month as a loan to make ends meet. This is from a friend. We have a loan agreement from an online site. I have 35,000 in debt from living on my credit cards for a year while I was trying to get SSI. I cannot make my credit card payments with out the loan from my friend. Will I loose benefits because of the loan?

Accountant's Assistant: These retirement benefits are supposed to help us but they can be so complicated! The Retirement Expert will help you get the most benefits properly. Is there anything else important you think the Retirement Accountant should know?

It's not retirement benefits. It is SSI, because I'm permanently disabled

Show More
Show Less
Ask Your Own Social Security Question
Customer reply replied 3 months ago
Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call.
Customer reply replied 3 months ago
Let me know if you need more information, or send me the service offer(s) so we can proceed.
Answered in 5 hours by:
3/28/2018
lev-tax
lev-tax, Tax Advisor
Category: Social Security
Satisfied Customers: 33,117
Experience: Taxes, Immigration, Labor Relations
Verified

The loan proceeds will NOT affect your benefits.

As long as that is a bona fide loan - proceeds are NOT considered as your income.

However - we need to be very careful - that must be a true loan - with clear expectations from both parties that loan will be paid back.

If your friend just provided you with the money and do not expect that amount to be paid back - that may be classified as a gift - and not as a loan.

So - that must be bona fide loan agreement.

Otherwise - I do not see any issues.

Let me know if you need any help.

Ask Your Own Social Security Question
Customer reply replied 3 months ago
My friend and have a document which we purchased from "We the People", which stipulates the loan per month (but not the total amount) , the interest rate, and when the loan will be paid back. I will be paying it back when I turn 62, and paying it back in incrementally at 350.00 per month. I will do this by getting a reverse mortgage on my house. Will this affect my SSI in the future? I will also start receiving Social Security when I turn 62 as well. Thank you!

It seems a a true loan obligations - and it looks as you and your friend have reasonable expectations for the loan to be paid back.

Am I correct?

So far - there is NO intention from you or your friend to treat that amount as a gift.

If these are all correct - your SSI eligibility should not be affected.

lev-tax
lev-tax, Tax Advisor
Category: Social Security
Satisfied Customers: 33,117
Experience: Taxes, Immigration, Labor Relations
Verified
lev-tax and 87 other Social Security Specialists are ready to help you
Ask your own question now
Was this answer helpful?

How JustAnswer works

step-image
Describe your issueThe assistant will guide you
step-image
Chat 1:1 with a social security expertLicensed Experts are available 24/7
step-image
100% satisfaction guaranteeGet all the answers you need
Ask lev-tax Your Own Question
lev-tax
lev-tax
lev-tax, Tax Advisor
Category: Social Security
Satisfied Customers: 33,117
33,117 Satisfied Customers
Experience: Taxes, Immigration, Labor Relations

lev-tax is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

dylatess

dylatess

ATTORNEY

3,467 satisfied customers

37 plus years of SSD practice

Megan C

Megan C

Certified Public Accountant (CPA)

4,582 satisfied customers

Licensed CPA, CMA, CFE, CGMA M.Accy Also Teach Accounting courses at Master's Level

LawTalk

LawTalk

Attorney

3,071 satisfied customers

I have 30 years of legal and litigation experience, including representing clients before the U.S. Social Security Administration.

R. Klein, EA

R. Klein, EA

Accountant

334 satisfied customers

Tax & Social Security Benefits specialist

Dimitry K., Esq.

Dimitry K., Esq.

Attorney

233 satisfied customers

Licensed in multiple jurisdictions, experienced business attorney.

AttorneyTom

AttorneyTom

Attorney

16 satisfied customers

Attorney

Stephanie O Joy, Esq

Stephanie O Joy, Esq

Soc. Sec. Attorney

3,283 satisfied customers

22+ years legal exp. - 12+ years owning/operating her own SSD Law practice.

< Previous | Next >

Related Social Security Questions
How much am I allowed to have in the bank. 59. but I am on
yes, I am receiving a check for 13,850.00. It is an inheritance from my dad,… read more
Bryan M.
Bryan M.
Owner
Masters of Accountancy
159 satisfied customers
How does 28 years of Railroad work and retirement affect
how does 28 years of Railroad work and retirement affect social security/ WORKED for 3 three years under social security and then 28 years RR retirement then three more years SS then on to my own busi… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
1,139 satisfied customers
SSI pays 714 supplemental 41 then if someone wanted to
SSI pays 714 supplemental 41 then if someone wanted to contribute an amount to supplement as a kindness what would be allowed without cutting existing benefits … read more
abci168
abci168
Principal
27 satisfied customers
When did survivors benfits become earned income an you can
When did survivors benfits become earned income an you can no longer earning any thing on ssi … read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
I am writing on Behalf single mother, who does not speak
Hi, I am writing on Behalf single mother, who does not speak English. She has green card . She receives food stamps, financial assistance and has Medical coverage for her and her child. What is the ma… read more
LawTalk
LawTalk
Attorney
Juris Doctor
3,071 satisfied customers
When I got approved for ssdi in december of last year, they
when I got approved for ssdi in december of last year , they sent me letter of award . it read that my monthly benefits would be 1505. monthly . well i started getting that . a couple weeks later loca… read more
keeperumiami
keeperumiami
Sr Financial & Tax Consultant
Bachelor\u0027s Degree
1 satisfied customers
I am 66 and receiving social security benefits received from
I am 66 and receiving social security benefits received from my deceased husbands earnings. If I remarry will I loose those benefits. … read more
TaxRobin
TaxRobin
Vocational, Technical or Trade School
1 satisfied customers
If I give a monthly gift or donation to someone who receives
If I give a monthly gift or donation to someone who receives ssi or ssd will this effect what they receive.… read more
emc011075
emc011075
Senior Tax Specialist
Bachelor's Degree
16 satisfied customers
What can I do to increase my social security? I am 78, just
What can I do to increase my social security? I am 78, just lost my job, just diagnosed with Parkensins disease, have a wife who has back problems due to an operation done several years ago. Any ideas… read more
Christopher B, Esq
Christopher B, Esq
Attorney
Juris Doctor
1,847 satisfied customers
My friend gets 900 a month from SSI and she has been told she
My friend gets 900 a month from SSI and she has been told she does not qualify for food stamps. I am wondering how this can be because my NRT for food stamps is 1260.00. Why would I not have to report… read more
TaxRobin
TaxRobin
Vocational, Technical or Trade School
1 satisfied customers
If I am yrs old and already receiving SSI and still working
if I am 69 yrs old and already receiving SSI and still working full time but getting to a point where I cant work. my doctor is telling me adamantly to shut down my business , but I have 2 amputations… read more
Phillips Esq.
Phillips Esq.
Attorney
JD
20,141 satisfied customers
I receive a small SSI check and my husband receives Medicare
I receive a small SSI check and my husband receives Medicare and we both receive medicaid. He is in a coma and I am going to be ask to pull the plug within the next 20 days. My SSI would have been mor… read more
Christopher B, Esq
Christopher B, Esq
Attorney
Juris Doctor
1,847 satisfied customers
I now receive $800.00 mo. SSI past 20 years. I will turn 62
I now receive $800.00 mo. SSI for the past 20 years. I will turn 62 in June of this year. I recently inherited a portion of a mortgage payment equalling approx. $800. month for the next 6-7 years. How… read more
Stephanie O Joy, Esq
Stephanie O Joy, Esq
Soc. Sec. Attorney
Doctoral Degree
3,283 satisfied customers
My mom is 85 y.o. and is a naturalized citizen, she has been
My mom is 85 y.o. and is a naturalized citizen, she has been receiving supplemental security income/SSI for 4 yrs. She went back to visit the Philippines her native country in May 29, 2015 and decided… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
4,582 satisfied customers
I received the Administrative Law Judge's approval
I received the Administrative Law Judge's approval for receiving SSI because of a physical disability. In sharing my available resources with SSI, I explained that I had received a $15,000 insurance a… read more
Stephanie O Joy, Esq
Stephanie O Joy, Esq
Soc. Sec. Attorney
Doctoral Degree
3,283 satisfied customers
I am working and collecting ssi I need hip replacement surgery.
I am working and collecting ssi I need hip replacement surgery. I am 67 can I get disability payments.… read more
Shawn P. Adamo
Shawn P. Adamo
CEO
Bachelor's Degree
18 satisfied customers
My mom and dad are 60. They came here as parents of an us citizen
My mom and dad are 60. They came here as parents of an us citizen with a green card. Question: they will pay taxes and will get their citizenship at 65. After that they will qualify for SSI. If they c… read more
LawTalk
LawTalk
Attorney
Juris Doctor
3,071 satisfied customers
If I receive SSI and want to work like HHA because I finish
If I receive SSI and want to work like HHA because I finish the training for this job and I need money to pay my rent that is more than SSI could I loose my SSI?… read more
KUMI95
KUMI95
Attorney
Doctoral Degree
17 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x