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Experts at Maximize My Social Security have answered more than 10,000 questions about Social Security over many years. Search for your questions and answers here.
Will Taking Out A Loan Affect My Disability Benefits?
If I am 58 and currently receiving SSI Disability checks of around $1200 per month, will pulling out a personal loan of 40k to help pay for my daughters wedding decrease my monthly SSI payments?
Hi,
Assuming that you are receiving Social Security disability benefits (SSDI) and not Supplemental Security Income (SSI), then the answer to your question is no, taking out a loan wouldn't have any effect on your benefits.
Best, Jerry
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Posted:
February 22, 2018