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If I receive a $15,000.00 cash voucher from Wells Fargo Bank will it affect my SSDI amount?

Upper Darby, PA |

I was one of the people eligible for this $15K cash voucher because of my low income and because I am a first-time home buyer. I'd like to purchase a home without it decreasing my SSDI amount. Is this possible.

Thank you!

Attorney Answers 4


SSDI and Supplemental Security Income (SSI) are frequently confused, even by attorneys. If the benefits you are receiving are indeed for disability through the Social Security program, then other factors in your finances are irrelevant. This is because Social Security is an insurance program, the premiums for which workers pay through payroll taxes. The result is opposite for SSI, which is a needs-based welfare program. If your benefits are actually SSI, then your benefits will be suspended temporarily until the cash is invested in a home, which for SSI purposes is a "non-countable resource."

Best wishes for a favorable outcome,a nd please remember to designate a best answer.

This answer is offered as a public service for general information only and may not be relied upon as legal advice.

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If you are on SSDI then is it not an income based benefit, but based on all the money you have already paid into the system. Thus, this will not have any effect on your SSDI.

Good luck.

DISCLAIMER: David J. McCormick is licensed to practice law in the State of Wisconsin and this answer is being provided for informational purposes only because the laws of your jurisdiction may differ. This answer based on general legal principles and is not intended for the purpose of providing specific legal advice or opinions. Under no circumstances does this answer constitute the establishment of an attorney-client relationship.

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This comment is published by and reflects the personal views of Nick Ortiz, in his individual capacity. It does not necessarily represent the views of his law firm or his clients, and is not sponsored or endorsed by them. The purpose of this comment site is to assist in dissemination of information about disability law, but no representation is made about the accuracy of the information. The information contained in this comment is provided only as general information for education purposes. The tips and suggestions contained in this comment may not be appropriate for your individual case. Please do not accept anything in this comment as legal advice unless and until you have hired me to represent you in your claim for benefits, and I have agreed – in writing – to represent you. By using this website you understand that this information is not provided in the course of an attorney-client relationship and is not intended to constitute legal advice. This comment should not be used as a substitute for competent legal advice from a licensed attorney in your state.

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No eefect on SSDI, but it would possibly effect SSI.

This is not legal advice but a general comment on society. International Law 24/7 hotline +1-202-318-2406 - Dr. Jonathan Levy, PhD calls or emails usually returned within 24 hours.

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