Many Individuals rely on Social Security benefits to make ends meet; but, what happens if the Social Security Administration requests repayment?
Getting such a notification might be frightening, especially if you’ve already spent the monies involved. Here’s a closer look at why this could happen and what you can do if it does.
Why The Social Security Administration May Request Money?
If the SSA believes that it has overpaid your benefits, it may want the money back.
According to Krisstin Petersmarck, Retirement Income Certified Professional (RICP) and investment advisor representative at Bridegriver Advisors in Bloomfield Hills, Michigan, these are the reasons for failing to file report certain income and calculating benefit amounts incorrectly due to inaccurate information.