Ask Terry Questions Social security takes money

Social security takes money

By Terry Savage on July 25, 2024 | Wild Card

Social Security sent me a letter, giving no explanation and kept $40,000 they said I owed them.

Terry Says

Wait– they might have demanded you pay back $40,000 — because of THEIR errors.  But they can’t “keep” $40,000.  They CAN suspend benefits if you don’t agree to a repayment plan.  But as of this Spring, they can only deduct 10% of your monthly check if they overpaid you.  Please write back and let me know more details of your situation.

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