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Bankruptcy

Are SSI and Social Security Disability Payments Exempt from Bankruptcy Claims?

If you receive Social Security Disability (SSD) benefits and file for bankruptcy, your checks are usually safe.

If your benefits come from SSI, which is a welfare program for the needy, they are always exempt from creditor claims.

However, SSDI payments technically qualify as "work" income, so they may be subject to bankruptcy claims.

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The 'Optiomal' Age to Claim Social Security Benefits : 65

According to a study, the optimal Social Security claiming age for a 55-year-old single man with a life expectancy of 76 is age 65, according to a HealthView Services analysis.

This of course depends on health and life expectancy, but since delaying Social Security benefits results in an 8 percent higher benefit, it's best to not claim early according to a HealthView Services analysis.


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Not affiliated with the US Social Security Administration