Social Security Is Now Overpaying Users Leading to Painful Problems

Social Security is now overpaying users, leading to painful problems as retirees face growing debt due to the agencies mistake.

A senior faced having to repay thousands of dollars in Social Security after being told she had been overpaid more than $20,000.

Carolyn Wallace, from New York, thought the government agency had made a mistake when she received the notice.

Wallace had received the support since the 1990s, per the NBC affiliate WSTM-TV.

She’s faced a slew of health battles as she revealed she had undergone three heart operations, a knee replacement, and said she would need hip surgery.

“I had a total hysterectomy when I was 28,” Wallace recalled.

Wallace received checks of $914 a month before they were abruptly stopped.

Social Security chiefs claimed she had been overpaid $23,202 over two years.

“I live check to check. So on the first of every month, I go and get paper goods and I get my groceries,” she cried.

“I had no food. I had to go to the store. Well, now I had no check.”

She warned that it would have taken her months to cover the amount she owed.

It got so bad for Wallace financially that she claimed she switched the television off when food adverts popped up on the screen.

She said she didn’t eat for two days.

It later emerged that Wallace hadn’t been overpaid after all, per WSTM.

But she lashed out at the agency for how they tackled the saga.

“I think they should fully investigate it before they send a letter to anyone stating you are overpaid and we’re taking your money away,” she said.

Wallace said she knew she hadn’t been overpaid.

The Social Security Administration has revealed why benefits overpayments happen.

Claimants should pay anything they owe within 30 days.

Overpayments happen when the agency doesn’t have up-to-date information on file.

But those who are adamant they were not overpaid can submit a waiver form.

Americans who think they’ll struggle to pay the money back should apply for a waiver.

They should also take action if they feel the error isn’t their fault.

The U.S. Sun reports that it has approached Social Security for comment.

For U.S. Bank Branch Closure news and updates, opt-in for push notifications.

Also Read: A Massive US Bank is Now Closing Credit Cards

Other Economy News Today

Market News Today - Social Security Is Now Overpaying Users Leading to Painful Problems.
Market News Today – Social Security Is Now Overpaying Users Leading to Painful Problems.

A banker is now convicted for stealing money from customers while working at Bank of America over a 10-year period.

The personal banker was arrested after her years-long scam, resulting in nearly $300,000 being stolen, came to light.

Police in Seneca, South Carolina said they received a report in 2013 about missing money from an account with Bank of America.

The victim, who also reported the incident to the Customer Service department, told police he was missing around $30,000.

Investigators worked with Bank of America for several weeks after the crime was reported and learned that an employee who had been stealing money from several people in Oconee County.

The police said the victims would use the Bank of America location in Seneca as their primary bank and Bobbi Cortese was their personal banker.

Seneca Police investigators and the US Secret Service spent nearly a decade doing more interviews.

Meanwhile, Bank of America was given time to complete an internal investigation.

It was revealed that Cortese had stolen nearly $300,000 from four people while working at the bank.

Some of the money was in the victims’ bank accounts for life insurance payouts related to the deaths of their spouses.

Others had a lifetime of earnings that was supposed to be used for their retirement, said police.

Cortese would open accounts under the victims’ names without their knowledge or consent and would perform a “shell game.”

This is when a scammer uses the money from one victim to replace what she stole from another victim.

After investigating further, police said Cortese forged several documents and issued them to the victims to hide the theft.

She committed these acts for about four years while working at the Bank of America, said police.

Cortese was arrested in May 2023 and charged with four counts of breach of trust and two counts of forgery.

She was later fired by the bank, reports The-Sun.

For more news and updates like this, opt-in for push notifications.

Also Read: A Massive Bank Now Freezes Money From Direct Deposits

Market News Published Daily 📰

Market News Today - Social Security Is Now Overpaying Users Leading to Painful Problems.
Market News Today – Social Security Is Now Overpaying Users Leading to Painful Problems.

Don’t forget to opt-in for push notifications so you don’t miss a single article!

Also, thank you to all of our blog sponsors.

This year we’ve been able to increase push notifications slots making it more convenient than ever for new readers to receive their daily market news and updates.

Scroll below to view my stock purchases this month!

You can also follow me on X (Twitter)InstagramFacebook, or LinkedIn for daily news and updates on your favorite stories.

Frank Nez’s Stock Portfolio

Wondering which stocks Frank Nez is holding? Which stocks is Frank Nez buying?

Frank Nez is now sharing his exclusive and personal stock portfolio with readers, only on the Patreon.

11/16/2023 – Today I invested $1,000 in two different stocks for a brand new stock dividend portfolio I am creating for 2024.


  1. Frank Nez

    Leave your thoughts below.

  2. Frank Nez

    For more news and updates like this, opt-in for push notifications.

Leave a Reply

© 2024

Theme by Anders NorenUp ↑