Ask Larry

Can A Person Get A Loan On Their Disability Benefits?

Can a person that receives disability benefits get a loan on their benefits turn around bright

Hi. By getting a loan on disability benefits, I assume you're referring to asking Social Security to pay a lump sum amount now that would be paid back in installments or by deductions from future benefits. The answer to that is no. There is no provision in the Social Security law that would allow a person to be paid future benefits in advance, nor can they choose to withdraw their past contributions (i.e. the Social Security taxes they've paid) in return for forfeiting their rights to future benefits.

Best, Jerry

Category: 
Posted: 
Feb 21 2021 - 11:17am
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