If you have received a letter from the Social Security Administration (SSA) and they tell you that you must return the benefits that were deposited 30 days ago, you should believe it, and they have their reasons. At Globe Live Media we explain more
More than 70 million Americans currently receive Social Security benefits and a large majority live on this income alone. It is for this very reason that it can be alarming to receive a letter from the Social Security Administration (SSA) explicitly asking you to pay back the benefits you collected 30 days ago.
This is not a scam, many people may be receiving real letters from the Social Security Administration and they will be truthful.
“There are some common reasons why the Social Security Administration may ask you to pay back benefits due to an overpayment,” said Kristin Petersmarck, a certified retirement income professional (RICP) and investment advisor representative with Bridegriver Advisors in Bloomfield Hills, Michigan, in an interview with Go Banking Rates.
“One reason may be that you didn’t report certain income to the Social Security Administration. Another reason may be an error in calculating the benefit amount due to inaccurate or incomplete information within the Social Security Administration.”
This is not the only reason your Social Security benefits that you have already collected can be taken away. Some other reasons have to do with a change in marital status, changes in your living situation, and having more resources than the allowable limit.
“Please get back to us if your benefit amount was more than it should have been. If you received a letter in the mail that says you received more money than you should have, get back to us within 30 days,” the SSA explains on its website.
Benefits are overpaid when the SSA can’t accurately calculate your benefit amount because the information they have about you is incorrect or incomplete. It can happen if you don’t share updates about what has changed in your life, such as your ability to work, your living situation, your marital status or your income.
“We will wait at least 30 days (plus 5 days by mail) from the date of the overpayment notice before we begin collecting the overpayment. If you submit a request for waiver or reconsideration before 30 days have passed, we will not begin collecting the overpayment until a decision is made on your request,” the SSA website adds.
If you have any questions, you can contact the SSA via telephone. Call +1 800-772-1213, available in most U.S. time zones Monday through Friday from 8 am to 7 pm in English and other languages.