SSI income limit?

[jawnn]

I get SSI and want to know the limits of money I can earn.

I have someone wanting me to sell him a couple of paintings for about $850 but he had someone else send me a check for one thousand eight hundred and fifty dollars. He wants me to launder the rest of the money to give to his shipping agent. Possibly fedX. I had to say no, but then my sister tells me I can earn up to 1220 per month while on Disability SSI. And that I could have over $2k in my bank. I would have no proof that I kept more than 850 form that 1850 check. So I still think I cannot do it without getting in trouble with the welfare dept. what is the amount that I can earn and not have it affect the amount of money I get from SSI? And do I have to report it?

This may not be illegal laundering of his money. I think he is still "off shore". But I do not know him, he contacted me by email to buy my paintings for his wedding anniversary.

 

[flyingron]

You're being scammed. The check is no good. You'll be out the paintings as well as the money you "laundered" to the shipping agent. When it bounces, your bank will demand their $1850 plus a fee (plus additional bounce fees if this allows your check to bounce). NO LEGITIMATE PERSON WOULD OVERPAY YOU BY CHECK AND TELL YOU TO SEND THE BALANCE SOMEWHERE.


This is a bad deal even if you are not on SSI. The limit is actually your SSI amount ($771 for individuals) but the SSA excludes $20-85 out of the total each month and counts only half the rest against you. Note that all of the countable income is subtracted from that month's benefit.

Transient blips in your bank balance don't count against you, it's what you have at the end of the month that matters.

 

[jawnn]

well he was wanting me to wait until the check cleared the bank...

You're being scammed. The check is no good. You'll be out the paintings as well as the money you "laundered" to the shipping agent. When it bounces, your bank will demand their $1850 plus a fee (plus additional bounce fees if this allows your check to bounce). NO LEGITIMATE PERSON WOULD OVERPAY YOU BY CHECK AND TELL YOU TO SEND THE BALANCE SOMEWHERE.


This is a bad deal even if you are not on SSI. The limit is actually your SSI amount ($771 for individuals) but the SSA excludes $20-85 out of the total each month and counts only half the rest against you. Note that all of the countable income is subtracted from that month's benefit.

Transient blips in your bank balance don't count against you, it's what you have at the end of the month that matters.

 

[flyingron]

well he was wanting me to wait until the check cleared the bank...

HE'S LYING.

There's no practical way for you to tell when the check clears. The bank will make the funds available to you immediately. The system is optimized on the fact that most checks are good and if they aren't the depositor can be trusted to make it good. It can take weeks for the BOUNCE to show up on your account.

 

[army judge]

I agree with @flyingron someone will cheat and scam you.

Be smart and forget about the entire Crooked deal.

If you do it, you'll be back on here asking how to get your $2,000 back.

 

[Disabled Vet]

They are SCAMMING YOU.... Seriously, This is 100% a SCAM.... It will look like this check will clear the bank. But it will COME back on you and then YOU will have to pay the bank back. Then you will get caught because it sounds like you don't have that kind of money. So when you file the report with the police, bank etc..... everyone will know of your issue.

 

[Tax Counsel]

well he was wanting me to wait until the check cleared the bank...

The guy is likely relying on the fact that most people confuse when the bank makes the money available with when the check actually clears. Federal law requires that banks have a funds availability policy that they provide their customers and federal law limits how long a bank may place a hold on deposited funds before making them available. The result is that most banks adopt as their funds availability policy the maximum amount of time that federal law allows. In practice, they often make funds available even faster in a lot of cases. Many bank customers think that when the bank allows them to take it out that means the check has cleared, but that's not the case. For some types of payments it takes longer to clear than the time the bank is allowed to hold the funds. Scammers make use of that by sending you a form of payment they know will take longer to clear than what the bank may hold the funds for. Then they get the victim to take out the funds and give it to them when the funds are available. When the check bounces a couple of weeks later, the scammer is long gone and your are left holding the bag to reimburse the bank for the bad check, along with bank fees on top of it.

You can expect that anytime some stranger offers to give you a check but makes it out for more than is needed for the transaction and wants you to give back the difference to him that it is a scam. Offering to buy something from you (say something you are selling on Craigslist) but asking to make it out for more than the price you are selling but asking you send back the difference is a very common scam and happens every day. Do not let yourself fall victim to it.

 

[jawnn]

I am so glad that I thought of asking here....I have learned a lot. it did sound like a scam but I thought it was a money laundering scheme. Thanks so much guys.

And he did disappear after I told him I was asking about this here....

The guy is likely relying on the fact that most people confuse when the bank makes the money available with when the check actually clears. Federal law requires that banks have a funds availability policy that they provide their customers and federal law limits how long a bank may place a hold on deposited funds before making them available. The result is that most banks adopt as their funds availability policy the maximum amount of time that federal law allows. In practice, they often make funds available even faster in a lot of cases. Many bank customers think that when the bank allows them to take it out that means the check has cleared, but that's not the case. For some types of payments it takes longer to clear than the time the bank is allowed to hold the funds. Scammers make use of that by sending you a form of payment they know will take longer to clear than what the bank may hold the funds for. Then they get the victim to take out the funds and give it to them when the funds are available. When the check bounces a couple of weeks later, the scammer is long gone and your are left holding the bag to reimburse the bank for the bad check, along with bank fees on top of it.

You can expect that anytime some stranger offers to give you a check but makes it out for more than is needed for the transaction and wants you to give back the difference to him that it is a scam. Offering to buy something from you (say something you are selling on Craigslist) but asking to make it out for more than the price you are selling but asking you send back the difference is a very common scam and happens every day. Do not let yourself fall victim to it.