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  1. #1

    Default What Happens if You Don't Fully Report Assets for SSI

    yes if someone has been on ssi for a while and are just now finding out that a computer counted as a resource and is just now finding out about the 2k limit,if ssa ever found out they in the past ever went out limit wouldnt they just make it be paid back since it wasnt fraud since they didnt do it on purpose and another question would a playhouse be counted as a resource,

    and as long as you have 2k at a time so if your computer was 500.00 and you could have 1500.00 at a time so as long as of now they watch there resource and asset limit thatd be ok
    as long as they didnt go over 2k

    and what if they was saving and ordering something couldnt they order 2k worth once and then once they ordered that wait save another 2k and then dod it again
    that way its 2k at a time and dont have more than 2k at a time
    and does cellphone video games or naything else besides computer count as resources

  2. #2
    Join Date
    Jan 2009
    Location
    California
    Posts
    661

    Default Re: What Happens if You Don't Fully Report Assets for SSI

    Generally, household goods and personal effects are excluded from the $2000 resource limit. That can include a refrigerator, washer/dryer, multiple televisions, a house of furniture, a computer, video games. Unless those items are being held because they will go up in value (as an investment). Electronics pretty much go down in value so they are not generally considered investments.

    https://secure.ssa.gov/apps10/poms.nsf/lnx/0501130430

    Cash, money in a bank account, money held by someone else that belongs to the SSI recipient, gift cards, investments, retirement funds, pension funds, any other item that can easily be converted to cash (liquid) is a countable resource. The most common countable non-liquid resources include non-home property, some life insurance, and the value of a second car.

    If someone has been over the resource limit for one month (based on the balance available on the first moment of the first day of the month, they are due zero for that month and overpaid for that month the entire SSI check. If they are over the resource limit for six months, they are overpaid SSI for six months. Generally SSI can go back 24 months from the month of discovery to make an excess resource decision. The overpayment amounts can add up pretty quickly to a large amount of money for a little bit of excess resources. The SSI recipient is then sent an overpayment notice and a bill for the amount. Then an amount is withheld from future SSI checks or non-voluntary cross program recovery from SSDI checks or bills are sent and tax refunds get garnished eventually. Eventually, there will be a way to collect the funds. The government does not forget.

    I do agree that the resource limit is too low considering it hasn't kept up with inflation and has only been changed once since 1974. But SSI recipients are stuck with it. The alternative is to give up SSI checks.

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