I received a notice today from Social Security stating that I am not eligible for SSI because I have an IRA. I am afraid this will also deny me for regular disability. Tomorrow I am planning on withdrawing my IRA and paying off my car and my bank loan. Whether or not this helps me with my disability claim, it will at least lower my monthly bills by $450. It seems like a good idea to me. What to you think? I know I will pay a penalty, but it would be worth it to not have to try to scrape up the extra $450 a month when things are tight enough already and I don't even know yet if I will qualify for disability. Any advice? ~J
Replies
I thought IRAs were for retirement. If you use that all up now, what are you supposed to use then? Sorry that is not advice, only more questions..
I posed that same question to the Social Security agent, but he just shrugged and said that I may not have a choice. ~J
Jlynn, I think your idea to cash it out and pay off bills is a very good idea. I don\'t believe that they will deny your disability at all. Do you have an attorney? If not, I suggest you speak to one immediately and find out all you can about your rights. I\'m nearly positive that you will still get your disability. Hang in there, you\'ll be in my prayers!
love,
Rose
Hi jlynn,
I am tired and mindless at the moment but here ya go.............
If the IRA is keeping you from receiving SSD you should cash it in. Get all the information from someone at SSD before filling out the next round of paperwork. Ask them and inform them of your situation. Sometimes they help but other times you get a robot.
Have someone who sees you on a daily basis fill out the section for the \"second parties\" questionnaire. I made the mistake of having my sister fill it out and she only saw me about every three to four months, if that. She could have stretched the truth a little bit but I was not going to ask her to lie. The \"I don\'t Know\" answers she wrote down killed my chances for a quick acceptance. This concerned the rest of my life so I should have insisted.
IS THIS YOUR FIRST DENIEL?
*You might want to go to one of those web sites that tells you how to fill that paper work out in the \"best way possible\".*
THE REST OF YOUR LIFE DEPENDS ON THIS JLYNN. Do what you must do. Stretch the trueth BUT OBVIOUSLY DO NOT LIE; these people who make the decisions are NOT YOUR FRIEND. The look for ways to DENY YOU. The doctor they have you see is not your FRIEND.
This probably isn\'t true but, I get the feeling that they get bonuses for the more people they decline. They have budgets that they must follow. If by the end of the month most of their monthly quota is used up they will deny everyone. The littlest thing will get you kicked off the \"GOOD LIST\" sort of speak.
A friend of my roommates just got accepted, who has TN, the very first time she applied. She filled the paperwork out properly. I am really angry about her having the same disease we have and me not getting approved while she did; I do not understand. It is great that she got accepted though, I am happy for her. Just after being accepted she won a 20k lottery; I hope that does not kick her out of the running. This just prove that life is not fare.
I hope it all works out for you and happens quickly
Take care,
Mike