If you are not able to work due to a disability, the amount of Social Security Disability Income (SSDI) you are awarded may or may not be enough to pay your bills. If your award is too low, you can also apply for Supplemental Security Income (SSI) to help pick up the slack. But not every application for either SSDI or SSI is approved, making it necessary for workers to lodge an appeal. The chances of being approved for SSDI on the first application are low, but many people see an increase in the possibility of being granted benefits on reconsideration or at hearing. With SSI, the denial is based on a different set of circumstances, so the appeal chances are not the same.
The likelihood of being awarded SSI benefits on appeal depends on your finances. The Social Security Administration (SSA) considers all of your assets when determining whether to grant SSI benefits, including investments and any property you own. Your car will also be taken into account, as will the amount of money you have saved. If the SSA finds you do not meet the financial threshold, there are other ways for you to make up the difference in income. For instance:
• You can tap into home equity if your home is worth more than you owe.
• You can liquidate investments or sell valuable assets.
• You can cash in a retirement account.
Some words of caution if you do have assets you can sell or liquidate be sure you are not going to take a tax hit for cashing in early or selling an item. We understand that being disabled and unable to provide for yourself and your family can leave you in a bind. We are here to help you get all you deserve, and fight for what you have earned.
We can be reached online and also at 855-727-6353. We are here to answer your questions about disability and related issues, and help you secure the benefits you need.