Social Security checks may be delayed impacting Americans using income method for retirement extensions

[Jingthing]

Something for those that might be effected to watch closely.

 

Americans using the 65k income method for retirement extensions can't get an income letter from the embassy so instead must show a foreign transfer into a Thai bank account every month.

 

Well, sadly, if that income is social security it might be delayed because of a pending debt ceiling political crisis. 

 

If that happens is there anything that can be done? Perhaps transfer the money in yourself on the normal payment date?

 

To be clear IF this happens you'll still get the same money later but the problem would be with the timing of a possible delay.

 

https://www.cnbc.com/2021/09/22/what-debt-ceiling-woes-could-mean-for-social-security-benefits.html

 

 

What debt ceiling woes could mean for Social Security benefits

Treasury Secretary Janet Yellen made headlines this week with an op-ed suggesting government checks could run dry if Congress doesn’t raise the debt ceiling.

“Nearly 50 million seniors could stop receiving Social Security checks for a time,” Yellen wrote.

 

 

Edited September 22, 2021 by Jingthing

[bkk6060]

Hopefully people have 2 grand available to transfer.

I transfer mine at all different dates in a month.  And, never directly from my retirement accounts but from my bank account.  As long as you show the letter as proof of retirement income do they care?

Never have cared with me.

 

[Jingthing]

11 minutes ago, bkk6060 said:

Hopefully people have 2 grand available to transfer.

I transfer mine at all different dates in a month.  And, never directly from my retirement accounts but from my bank account.  As long as you show the letter as proof of retirement income do they care?

Never have cared with me.

 

I was under the impression that immigration wants to see a transfer every month at a similar time. 

 

You must be talking about a letter from social security not an income letter from the embassy because the US embassy doesn't do those.

 

Obviously enforcement can vary between offices.

 

I recall reading people having problems when there were two transfers in one month and none in the next because of the mechanics of the payment system.

 

I guess the issue will be if this happens whether expats transfer in one payment themselves not knowing how long a delay might be. Like if it was a long delay that might cover their assets as it were.

Edited September 22, 2021 by Jingthing

[tonray]

Ahh....our wonderful government doing their best to screw the average Joe once again. Absolutely sickening as usual.

[ubonjoe]

Did you read what was stated further down the page than what Yellen stated. 

This is not the first time it has happened and SSA payment were not affected in the previous one.

It almost appears to be scaremongering to get support.

 

[Jingthing]

3 hours ago, ubonjoe said:

Did you read what was stated further down the page than what Yellen stated. 

This is not the first time it has happened and SSA payment were not affected in the previous one.

It almost appears to be scaremongering to get support.

 

People should read the entire article and they will see that it is indeed possible for the checks to be delayed and what you cited was an out context opinion of one source. If you're saying that this debt ceiling impasse is a political situation then I would totally agree. Also I don't think that they will be delayed. But again, it is possible.

 

So all I'm saying is that potentially impacted expats should watch this closely and perhaps prepare in advance to do their own transfer if the delay happens, if they have the money to send, and if they think that would be a wise proactive action to take. 

Edited September 23, 2021 by Jingthing

[ubonjoe]

18 minutes ago, Jingthing said:

So all I'm saying is that potentially impacted expats should watch this closely and perhaps prepare in advance to do their own transfer if the delay happens, if they have the money to send, and if they think that would be a wise proactive action to take. 

I am just saying people should not panic over it. If they only read the part about what Yellen said it might scare them.

Also it is not only for those doing extensions based upon retirement. There are people doing extensions based upon marriage that are using the 40k baht income option that could be affected.

As I wrote I don't recall SSA payments ever being delayed due the debt ceiling being reached. The only part that might not protected is perhaps the cost of the SSA doing the transfers.

[Jingthing]

1 minute ago, ubonjoe said:

I am just saying people should not panic over it. If they only read the part about what Yellen said it might scare them.

Also it is not only for those doing extension based upon retirement. There are people doing extensions based upon marriage that are using the 40k baht income option that could be affected.

As I wrote I don't recall SSA payments ever being delayed due the debt ceiling being reached. The only part that might not protected is perhaps the cost of the SSA doing the transfers.

Oh 

I totally agree that there is no cause for panic.

But on the other it's a situation that should be watched. 

That the delays haven't happened before doesn’t necessary mean they never will.

Thanks for the correction to include income based marriage extenders in this.

[Jingthing]

Update on this.

The deadline to prevent this debt default is probably October 18.

It still isn't resolved.

If the U.S. defaults on its debt it would be the first time in history.

This topic is about any concerns about delays in social security checks for Thai visa qualification.

Information about that can be found in this link which indicates specifically that social security payments COULD (not would, COULD) be delayed for people with birthdates between the 11th and 20th. That would be one of the early stage delays with the assumption being that this would be fixed earlier than later.

 

 

If the U.S. defaults on its debt, Social Security, tax refunds, other payments are at risk - Washington Post

Quote

 

The government is on track to default for the
first time ever. Here are the payments at risk.

 

The United States may default on its bills for the first time in history later this month, unless Congress allows the federal government to take on more debt. But raising the debt ceiling has become stuck in partisan mire, leaving the United States hurtling toward default and raising hard questions about what expenses might not get paid.

 

 

Edited October 6, 2021 by Jingthing

[Scott]

A post has been removed.  This thread is not for political discussion or debate.

 

[ubonjoe]

5 hours ago, Jingthing said:

Information about that can be found in this link which indicates specifically that social security payments COULD (not would, COULD) be delayed for people with birthdates between the 11th and 20th. That would be one of the early stage delays with the assumption being that this would be fixed earlier than later.

That would only be for those living in the US or living here and using a US address for the SSA.

Those using their address for here get their payments on the 3rd of the month and have already received them this month.

[Caldera]

What's the benefit of allowing this kind of nonsensical fear mongering. Clearly, those payments won't be delayed, ever.

[Jingthing]

2 hours ago, ubonjoe said:

That would only be for those living in the US or living here and using a US address for the SSA.

Those using their address for here get their payments on the 3rd of the month and have already received them this month.

Good point.

But the issue isn't about this month but about next month. 

The situation if it happened would need  to drag on quite a while to effect other groups of recipients.

[Jingthing]

1 hour ago, Caldera said:

What's the benefit of allowing this kind of nonsensical fear mongering. Clearly, those payments won't be delayed, ever.

This is a facts based topic. Not fear mongering.

[Jingthing]

Update now is there appears to be a high probability that a stopgap measure will be approved meaning that a potential default will be delayed about six weeks or so. Unfortunately that isn't a real.resolution but at least it gives more breathing room.

[Jingthing]

While this was posted before the news of a probable (but not certain yet) stopgap measure I think this explains some very interesting background on the internal mechanics of how social security benefits are paid or potentially (though happily very unlikely) not paid.

 

 

Edited October 7, 2021 by Jingthing

[KhunLA]

On 9/23/2021 at 6:53 AM, ubonjoe said:

Did you read what was stated further down the page than what Yellen stated. 

This is not the first time it has happened and SSA payment were not affected in the previous one.

It almost appears to be scaremongering to get support.

 

 

On 9/23/2021 at 6:53 AM, ubonjoe said:

This is not the first time it has happened and SSA payment were not affected in the previous one.

It almost appears to be scaremongering to get support.

 

Nothing but  'scaremongering to get support' ... as same thing happens every time, and SS has never be delayed or stopped due to debt ceiling or budget conflicts / budget not passed.

[Jingthing]

1 hour ago, KhunLA said:

 

Nothing but  'scaremongering to get support' ... as same thing happens every time, and SS has never be delayed or stopped due to debt ceiling or budget conflicts / budget not passed.

The topic isn't about the past. It's about the present and future. The video I posted explains clearly how a delay technically COULD happen but that everyone agrees is highly unlikely TO happen.

Edited October 7, 2021 by Jingthing

[EVENKEEL]

4 minutes ago, Jingthing said:

The topic isn't about the past. It's about the present and future. The video I posted explains clearly how a delay technically COULD happen but that everyone agrees is highly unlikely to happen. 

 

Again this is a facts based topic. Your accusations are both false and insulting.

Anything "could" happen, what if, might are all words folks use to stir up trouble without having to account for anything.

Edited October 7, 2021 by EVENKEEL

[Jingthing]

6 minutes ago, EVENKEEL said:

Anything "could" happen, what if, might are all words folks use to stir up trouble without having to account for anything.

Again I posted an explanation of the mechanics of social security payments. That basically proved that what some people are painting as impossible actually isn't.  Again though highly unlikely. .

[KhunLA]

13 minutes ago, Jingthing said:

The topic isn't about the past. It's about the present and future. The video I posted explains clearly how a delay technically COULD happen but that everyone agrees is highly unlikely TO happen.

You posted an op-ed that quoted a newly appointed politician, of the same party, trying to push a bill through Congress, presently a scenario that has never happened, in a system set up so it doesn't happen.

 

I'd call that scaremongering, not news, or a possibility.  cnbc... go figure.  The only surprise is they didn't blame it on Trump ????

 

I'm pretty sure in the very unlikely possibility of it happening, Thai Imm would simply make an exception for any 1 month involved, and simply take the total of the 2 months.

 

Just as all the overstayers of their visa during lockdowns, outside of the country, didn't end up in jail or fined.  Actually got a carte blanche pass to avoid most immigration policies for over a year.

I've found Imm to be very compassionate & understanding most times.

[Jingthing]

4 minutes ago, KhunLA said:

You posted an op-ed that quoted a newly appointed politician, of the same party, trying to push a bill through Congress, presently a scenario that has never happened, in a system set up so it doesn't happen.

 

I'd call that scaremongering, not news, or a possibility.  cnbc... go figure.  The only surprise is they didn't blame it on Trump ????

 

I'm pretty sure in the very unlikely possibility of it happening, Thai Imm would simply make an exception for any 1 month involved, and simply take the total of the 2 months.

 

Just as all the overstayers of their visa during lockdowns, outside of the country, didn't end up in jail or fined.  Actually got a carte blanche pass to avoid most immigration policies for over a year.

I've found Imm to be very compassionate & understanding most times.

Janet Yellen is NOT a politician.

 

My understanding is that immigration generally does not accept missing month income  transfers. Your other example off topic.

Edited October 7, 2021 by Jingthing

[KhunLA]

15 minutes ago, Jingthing said:

My understanding is that immigration generally does not accept missing month income  transfers. Your other example off topic.

Without a reason ... correct. 

 

If every Yank showed up, with I month missing, and 2 deposits in the next month....yea, we'd all be deported.  ????  I'd better make some plane reservations back to the USA.

[Jingthing]

4 minutes ago, KhunLA said:

Without a reason ... correct. 

 

If every Yank showed up, with I month missing, and 2 deposits in the next month....yea, we'd all be deported.  ????  I'd better make some plane reservations back to the USA.

It would be better not to have to test that. Also, different offices, different responses.

Edited October 7, 2021 by Jingthing

[Rampant Rabbit]

On 9/23/2021 at 6:36 AM, tonray said:

Ahh....our wonderful government doing their best to screw the average Joe once again. Absolutely sickening as usual.

Learn early  in life NEVER  to rely on any govt for your  well  being, be  that a  pension security or anything else.............which is why I avoided as  much tax  as  possible when I lived  in my  home country

[Jingthing]

OK.

 

This is being kicked down the road a bit until December.

 

After that

...

 

https://www.latimes.com/world-nation/story/2021-10-07/schumer-agreement-reached-on-short-term-debt-ceiling-fix

 

WASHINGTON — 

Senate Majority Leader Charles E. Schumer (D-N.Y.) said Thursday an agreement has been reached with Republicans to extend the government’s borrowing authority into December, temporarily averting a debt crisis.

Edited October 7, 2021 by Jingthing

[ubonjoe]

The Senate has kicked the can down the road to December 3rd. Now waiting for the vote in the congress.

https://www.foxbusiness.com/politics/senate-vote-lift-debt-ceiling-default

[TaoNow]

10 hours ago, ubonjoe said:

The Senate has kicked the can down the road to December 3rd. Now waiting for the vote in the congress.

https://www.foxbusiness.com/politics/senate-vote-lift-debt-ceiling-default

My esteemed ubonjoe:  Please reassure us that you and your colleagues do not rely on Fox for your news.  Please.

[Jingthing]

Fox or whatever, the information was accurate.

Most likely there will nothing to say further on this matter until we get closer the new deadline in December (as nothing has been resolved, only delayed). 

[ubonjoe]

38 minutes ago, TaoNow said:

My esteemed ubonjoe:  Please reassure us that you and your colleagues do not rely on Fox for your news.  Please.

I have a bookmarked link for breaking news. Nothing wrong with the news on it. I normally click the link for it when I am looking for breaking news.