Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Defaulted Loans May Haunt Seniors
finance.yahoo.com ^ | Monday, March 8, 2010 | Ellen E. Schultz

Posted on 03/09/2010 8:50:16 AM PST by GOPsterinMA

A little–noticed law could soon result in smaller Social Security checks for hundreds of thousands of the elderly and disabled who owe the U.S. money from defaulted loans and other debts more than a decade old.

Social Security benefits are off–limits to creditors, such as credit–card companies and banks. But the U.S. can collect debts to federal agencies by "offsetting," or withholding Social Security and disability payments.

The Treasury currently withholds benefits of 3.1 million Social Security recipients to recover defaulted student–, farm– and small–business loans, unpaid income taxes, amounts veterans owe for health care, and other debts to the government.

Previously, the U.S. hasn't been able to withhold Social Security payments to recover most debts delinquent for more than ten years.

(Excerpt) Read more at finance.yahoo.com ...


TOPICS: Business/Economy; Crime/Corruption; Culture/Society; Government
KEYWORDS: benefits; default; loans; socialsecurity
Navigation: use the links below to view more comments.
first 1-2021-4041-43 next last

1 posted on 03/09/2010 8:50:16 AM PST by GOPsterinMA
[ Post Reply | Private Reply | View Replies]

To: GOPsterinMA

This is evil. Many senior citizen have only SS to live on. Just a few dollars could be the difference between having a roof or a bridge over their heads


2 posted on 03/09/2010 8:55:26 AM PST by clamper1797 (Would you hold my hand ... If I saw you in heaven ... to my angel in heaven)
[ Post Reply | Private Reply | To 1 | View Replies]

To: clamper1797; ExTexasRedhead
It’s pretty obvious to me that Herr Leader wants old people (any what number constitutes ‘old’?) dead.

I bet he’s already got the plans from Dachau ready to go. The difference being, his version of a death camp will be “green”.

3 posted on 03/09/2010 8:59:02 AM PST by GOPsterinMA (Camelot sleeps with the fishes!)
[ Post Reply | Private Reply | To 2 | View Replies]

To: GOPsterinMA

Yeah ... it’s just awful that people would be expected to pay back money that they owe.


4 posted on 03/09/2010 8:59:50 AM PST by Skepolitic
[ Post Reply | Private Reply | To 1 | View Replies]

To: GOPsterinMA

Yet illegals get free edu and benes. How special.


5 posted on 03/09/2010 9:01:16 AM PST by Marty62 (former Marty60)
[ Post Reply | Private Reply | To 1 | View Replies]

To: GOPsterinMA

America better wake up and the future victims better wise up.


6 posted on 03/09/2010 9:02:04 AM PST by ExTexasRedhead (Clean the RAT/RINO Sewer in 2010 and 2012)
[ Post Reply | Private Reply | To 3 | View Replies]

To: GOPsterinMA

http://www.freerepublic.com/focus/f-chat/2467198/posts


7 posted on 03/09/2010 9:02:40 AM PST by autumnraine (You can't fix stupid, but you can vote it out!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: GOPsterinMA
This is not an Obama era law. The question is whether or not people should be allowed to stiff the gov't. I was taught that if you owe money, you need to pay it.

The more onerous part of this, and I am speculating, is that if you declare bankruptcy, then you still owe the gov't its money. That is the part that disturbs me greatly. Someone that goes through bankruptcy should be cleared. The gov't should not have its hooks into you for all time.

8 posted on 03/09/2010 9:03:14 AM PST by mlocher (USA is a sovereign nation)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Skepolitic; Marty62; ExTexasRedhead; mlocher

For abusers and deadbeats, yes, for sure.

But veterans? For medical care? That is wrong.

And the illegals get whatever they want? Ass backwards.

Moderator, if this is a duplicate thread, please pull. Thank you.


9 posted on 03/09/2010 9:04:54 AM PST by GOPsterinMA (Camelot sleeps with the fishes!)
[ Post Reply | Private Reply | To 4 | View Replies]

To: GOPsterinMA

Me thinks there is more to this than the eye sees. Maybe forcing families to take care of the elderly. Or are we going to see a return of the POOR HOUSES.$750= $9000 per year. I’m sure one of Zeros Tsars have a solution for this.

The 2009 Poverty Guidelines for the
48 Contiguous States and the District of Columbia Persons in family Poverty guideline
1 $10,830
2 14,570
3 18,310
4 22,050
5 25,790
6 29,530
7 33,270
8 37,010
For families with more than 8 persons, add $3,740 for each additional person.


10 posted on 03/09/2010 9:07:54 AM PST by Marty62 (former Marty60)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Marty62

Excellent point Marty62!


11 posted on 03/09/2010 9:11:12 AM PST by GOPsterinMA (Camelot sleeps with the fishes!)
[ Post Reply | Private Reply | To 10 | View Replies]

To: GOPsterinMA

I wonder if this would pertain to defaulted Fed backed mortgages?


12 posted on 03/09/2010 9:11:36 AM PST by 30Moves
[ Post Reply | Private Reply | To 1 | View Replies]

To: clamper1797

Yeah, it’s terrible.

Money is free and should be taken from taxpayers and given to people who need it.


13 posted on 03/09/2010 9:23:31 AM PST by Jewbacca (The residents of Iroquois territory may not determine whether Jews may live in Jerusalem.)
[ Post Reply | Private Reply | To 2 | View Replies]

To: GOPsterinMA
I bet he’s already got the plans from Dachau ready to go. The difference being, his version of a death camp will be “green”.

It's not just "green", it's Soylent Green.

14 posted on 03/09/2010 9:29:49 AM PST by KarlInOhio (New Olympic tagline Shut up, Bob Costas. Shut up! Shut up! Shut up! Shut up! Shut up! Shut up!)
[ Post Reply | Private Reply | To 3 | View Replies]

To: Jewbacca

I don’t know about you ... but I have contributed a fortune to SS. As far as owing money. Apparently you have never been through an IRS audit. Those people are the epidome of evil. LOTS of people wind up owing the gubmint money due to an unfair audit.


15 posted on 03/09/2010 9:30:20 AM PST by clamper1797 (Would you hold my hand ... If I saw you in heaven ... to my angel in heaven)
[ Post Reply | Private Reply | To 13 | View Replies]

To: GOPsterinMA
You missed the point. People who have owed the US money for more than 10 years now have to pay it back. Yes, even a Veteran, who has dodged paying a debt still has to pay it. I agree that veterans are not always treated fairly -- let's solve that problem -- but let's not let veterans, or anybody else for that matter, dodge their obligations.

Be careful about throwing in the illegal alien issue into this. I can use the unfairness (Ass backwards)argument that you propose to justify just about any social policy. "Illegal aliens get free healthcare and education. Therefore I should get a free home, or at least a tax credit since I am a US citizen." That line of thinking is absurd.

Look at each issue on its own merits and solve, or not solve, each problem. But don't lump them together. That's liberal-think.

16 posted on 03/09/2010 9:31:33 AM PST by mlocher (USA is a sovereign nation)
[ Post Reply | Private Reply | To 9 | View Replies]

To: 30Moves

Fantastic question!!!!!!


17 posted on 03/09/2010 9:37:31 AM PST by GOPsterinMA (Camelot sleeps with the fishes!)
[ Post Reply | Private Reply | To 12 | View Replies]

To: KarlInOhio

How ironic!


18 posted on 03/09/2010 9:37:46 AM PST by GOPsterinMA (Camelot sleeps with the fishes!)
[ Post Reply | Private Reply | To 14 | View Replies]

To: GOPsterinMA

The founders had a good reason for ... Article 1, Section 8, Clause 4


19 posted on 03/09/2010 9:40:21 AM PST by clamper1797 (Would you hold my hand ... If I saw you in heaven ... to my angel in heaven)
[ Post Reply | Private Reply | To 1 | View Replies]

To: clamper1797

That’s nice.

They borrowed money from you and me. They owe it to you and me. They need to pay it back.

Not complex.


20 posted on 03/09/2010 9:40:57 AM PST by Jewbacca (The residents of Iroquois territory may not determine whether Jews may live in Jerusalem.)
[ Post Reply | Private Reply | To 15 | View Replies]


Navigation: use the links below to view more comments.
first 1-2021-4041-43 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson