What Is A Disability
According to the Social Security Administration, you may be considered disabled if you meet all of the following requirements.
- You are unable to perform work you did previously
- Your medical condition will not allow you to perform other types of work
- Your disability has lasted or is expected to last for at least one year, or will lead to your death
The Social Security Administration, or SSA, uses a five-step process to determine whether you qualify for disability benefits.
How to apply for disability
Social Security Disability Insurance For People With Cancer
Social Security Disability Insurance is a federal disability insurance benefit earned by people who have worked and paid into Social Security. Its only available to people who have disabilities that keep them from working. If you have cancer, you may be able to have your SSDI application processed more quickly
What Is A Cash Advance Loan
A cash advance loan is a short-term loan, usually tied to your income schedule, and the income may come from a job or another regular source. A payday loan is one type of cash advance, but you can borrow money via several alternatives, including short-term personal loans and credit card cash advances.
Payday loans are the most expensive form of a cash advance because they come with triple-digit APRs and very short repayment periods. You dont need to pass a credit check to get a payday loan, which you repay in a lump sum. The Consumer Financial Protection Board cautions consumers about the safety of payday loans.
An online short-term personal loan requires a credit check and usually has an APR no higher than 36%. You repay the loan in a series of installments.
Most credit cards allow you to take cash advances up to a set limit with APRs no greater than 36%. While you may undergo a credit check to obtain a credit card, cash advances from the card require no further credit inquiries.
Will Social Security Issue Emergency Advance Payment Checks
According to the Social Security Administration , under no circumstance does Social Security issue emergency checks to beneficiaries currently receiving disability payments.
We know times can be difficult and place individuals in financial hardships, but, unfortunately, the SSA will not issue payments in advance unless you are a new applicant. However, this does not mean you are out of options.
Keep reading to learn about the SSA guidelines and what to do in the case of an emergency situation. Need immediate assistance with disability benefits? Complete this form or call us at the number above. We are available to help during this time!
How We Make Money
You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout lifes financial journey.
Bankrate follows a strict editorial policy, so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers.
Were transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money.
Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service.
Also Check: Las Vegas Nv Social Security Office
What About Work Verification
Its great to have quick access to money, but if you dont work, or you receive SSI benefits as the bulk of your income, then how do you qualify?
Unfortunately, many organizations dont recognize SSI deposits as eligible income. But MoneyLion does. We set your advance limit on your deposit schedule and account transaction history.
How Can I Find Out More About Ssdi
- Visit www.ssa.gov online choose disability
- Visit ssabest.benefits.gov to learn about Social Security benefits you might be eligible for including SSDI
- Go to your nearest Social Security office
You can find out how much you would get from SSDI by looking at your Social Security statement. The statement shows your work history and an estimate of what your benefits would be at this time. To get a Social Security statement:
- Request a statement online through Social Securitys website at www.ssa.gov. Click on My Social Security on the left side of the page.
Note that SSDI is different from SSI .
SSI is for people who didnt pay enough into Social Security during their working years, or who havent worked recently enough to qualify for SSDI. However, some people who were employed for short times or whose income was very low may qualify for both SSDI and SSI because their SSDI payment is so low. In that case, the SSI payment is reduced by the amount of SSDI the person gets. See more information on Supplemental Security Income .
You May Like: Lubbock Tx Social Security Office
Amount Of A Hardship Advance Payment
There is no legal restriction on the number of hardship advance payments that can be made before the first instalment. However, the total amount advanced should not exceed the total amount payable for the first 14 days.
The SSAct allows hardship advance payments of up to 14 days. The delegate should advance NO more than 7 days or the number of days payable in the claimant’s first instalment, whichever is less. This will protect the claimant against going for too long a period without financial assistance. In exceptional circumstances, the delegate may advance more than 7 days BUT NOT more than the number of days payable in the claimant’s first instalment.
Example: Exceptional circumstances will exist if a refusal to advance a greater amount will have a clear adverse effect on the claimant’s wellbeing, such as preventing payment of up front course fees by potential students.
The minimum amount of a hardship advance payment is one day’s payment.
Act reference:SSAct section 51 Advance in case of severe financial hardship
Greater Right Or Benefit
If an employment agreement provides a greater right or benefit, in other words, it goes above and beyond the minimum standards outlined in the Employment Standards Act , then the provisions of the agreement prevail over the Employment Standards Act .
If an employee takes a PEL for the same reason that is covered by one of the provided benefits of the employment agreement, the employer can apply this personal leave for both benefits. For example, if an employee takes a PEL because of an illness and the employment agreement does provide the benefit of Sick Leave, the employer can draw from both the PEL, under the ESA, and the Sick Leave under the employment agreement.
Also Check: Social Security Disability Overpayment Law
Public Agency Updates: Rules Procedures And Office Closures/restrictions
Social Security COVID-19 Updates
Get Ssa Benefits While Living Abroad
U.S. citizens can travel to or live in most, but not all, foreign countries and still receive their Social Security benefits. You can find out if you can receive benefits overseas by using the Social Security Administrations payment verification tool. Once you access the tool, pick the country you’re visiting or living in from the drop-down menu options.
Read Also: Social Security Ticket To Work Program
Pel Verification: Can An Employer Ask For Proof
The employer cannot ask for medical documentation, such as a note from a physician, registered nurse or psychologist. It is permissible to request documentation from other types of health practitioners, such as a dentist, physiotherapist, Chinese medicine practitioner, or naturopath. If an employee has used more than ten PEL days, the employer can ask for medical documentation from a physician, registered nurse, or psychologist.
The employer can technically ask for proof, however, they must consider how they ask or what they ask for. The employer can reasonably ask the employee for the reason for the PEL and request certain proof. What is determined as reasonable would be contingent on each individual circumstance. For example, an employer may deem it is reasonable to request an obituary or death certificate for a PEL related to a death.
Important Notes to Consider
Employers should ask if it is really necessary to ask for certain verification in order to substantiate the information. Consider trends of punctuality, absenteeism and behaviour, the plausibility of the claims, and the ease of access to evidence .
Employers must be very cognizant of the employees right to privacy. There is nothing in the act that requires the employee to tell them the reason for their PEL.
Who Qualifies For A Disability Loan
Because a disability loan is a personal loan, approval will be based on the lender and your financial history. The eligibility requirements will vary from lender to lender. If you dont meet the requirements, most lenders will give you the option to apply with a co-signer to increase approval odds. Your interest rate will also be determined by your credit history, so the better the score, the lower the interest rate.
Disability loans arent processed through the SSA like disability benefits are. Instead, disability loans go through a private lender. Therefore, they should only be taken out as a last-resort option and if you have a repayment plan in place to pay off the balance. Keep in mind that it may not be the best idea to rely on disability benefits as a way to pay off your loan, as the government could deny your claim.
Before applying for a loan, make sure youve already applied for disability through the SSA, as the loans are a short-term fix, not a long-term solution.
You May Like: How Much Is Social Security Taxable
An Income Of $800 A Month Can Qualify For Cash Advance Loans
Short-term loans for Social Security and SSI recipients are available from several sources, including cash advance payday loans, personal loans, and credit card advances. The required income amount may be modest.
For example, our top-ranked lending network, MoneyMutual, requires an income of only $800 a month to prequalify for a cash advance loan. Keep in mind that most loans for folks with bad credit are expensive and can be pretty risky.
If you have trouble living on your Social Security income, consider seeking out a nonprofit credit counseling organization for free help budgeting your money. You can also contact a local social worker for additional information about your various options.
Who Can Get It
You may be able to get an Advance Payment of Benefit if you:
- are getting a main benefit , Orphan’s or Unsupported Child’s Benefit, NZ Super or Veteran’s Pension
- have an essential or emergency cost you can’t pay for.
It also depends on:
- how much you and your partner earn
- any money or assets you and your partner have.
Read Also: North Carolina Social Security Office
When A Hardship Advance Payment Can Be Made
A claimant must be in severe financial hardship to receive a hardship advance payment.
A claimant who is not a member of a couple is considered to be in severe financial hardship if the total value of their liquid assets is less than their fortnightly maximum payment rate, including RA and PhA.
For a claimant who is a member of a couple :
- the total value of the liquid assets of both members of the couple must be LESS than twice the claimant’s fortnightly maximum payment rate including RA and PhA
- if the couple are on different rates, the higher rate should be applied to both members of the couple in determining whether each meets the hardship test, and
- a claimant who is claiming YA who is not independent and is a member of a couple but not yet a ‘member of a YA couple’ under SSAct section 1067C should be assessed for hardship in their own right without regard for their partner’s liquid assets.
Liquid assets are defined differently for different purposes in the SSAct and are undefined in relation to some payments. There is no statutory definition of the term for the purpose of considering whether a hardship advance payment can be made. For this purpose, liquid assets should be taken to include:
- the person’s cash
- any amount deposited with, or lent to, a bank or other financial institution by the person which is accessible before the date of the first instalment, and
- any other readily realisable assets of the person.
Policy reference: SS Guide 126.96.36.199 Urgent payments
Can I Get A Cash Advance Loan When My Main Income Is Social Security
Most lenders allow you to use your Social Security benefits as your primary income source. In fact, many lenders prefer Social Security recipient income to a paycheck because:
- You receive your money every month as a direct deposit.
- Your benefits continue for the remainder of your life.
- The amount you receive can grow each year due to cost-of-living adjustments.
- The federal government ensures payment.
On the other hand, employment income is less secure, and you could lose your job or the company could go out of business. Also, you dont necessarily receive any cost of living increases.
Recommended Reading: Social Security Office Buford Ga
What Employers Need To Do In Initial Pel Years To Mitigate Risk
As I am sure you can tell, any uncertainty around labour law leaves everyone exposed. For the next few years we should all err on the side of caution here, and as always, take detailed notes document everything. It would be one thing if we could simply add on a paid vacation day, or define what an actual personal emergency is. Playing out the worst case scenario, how can we protect against an employee from wanting a paid long weekend after a week? How can we stop an employee from going home during the busiest two weeks of the summer because they are homesick? Our industry, particularly those in seasonal roles where we already lose students during the two busiest weeks of the summer, will be very negatively affected by this.
The direction I have been given by the industry is to adapt internal company policy to incorporate the bill, and enforce that policy. That means clearly outlining what a personal emergency is, and what the correct procedure for taking the leave is. Clearly define your job abandonment policy and explain that if an employee takes a PEL day on a three hour shift, they are not entitled to a paid 8 hour day.
Remember this nuance though, it is required that the 2 paid days be used first. These 2 paid days can be taken in part, full or multiple days and cannot be carried over to the following year. Employees are entitled to more than one leave for the same event. Each leave is separate and independent of any right an employee may have to any other leave.
Cons Of Disability Loans
There are a number of disadvantages to disability loans, starting with the terms that come with many disability loans.
If you no longer have a stable income and apply for a disability loan, certain lenders may reduce their risk by offering you short repayment terms. While you may receive the cash you need, you might have to pay it back far faster than you would if you took out a disability loan while you were working.
Lenders may offer personal loans with high interest rates to protect themselves when lending money to you while youre unemployed and they may charge expensive loan origination fees or other fees. Costly fees paired with high interest rates can make it easy to rack up debt in a hurry a dangerous scenario when youre not working.
Also Check: Social Security Office In Milwaukee