When dealing with medical debt and creditors, individuals in New Jersey might feel at a loss. To address their medical debt once and for all, debtors can file for bankruptcy in New Jersey. If you have considerable medical debt in New Jersey, consider filing for bankruptcy. Bankruptcy can help you address your debt through a repayment plan or liquidation plan, removing the financial strain medical debt may be causing you and your family. Depending on your needs and finances, filing for Chapter 7 or Chapter 13 bankruptcy to eliminate medical debt may be beneficial. Within a relatively short period of time, you can address your medical debt, repay creditors, and move forward debt-free by filing for bankruptcy in New Jersey. Our lawyers are here to help medical debtors in New Jersey regain their financial stability by filing for bankruptcy. For a free case evaluation with the New Jersey bankruptcy attorneys at Young, Marr, Mallis & Associates, call today at (609) 755-3115. When Should You File for Bankruptcy to Address Medical Debt in New Jersey? Medical debt can feel oppressive, following individuals through life and damaging their financial stability. If you are dealing with substantial medical debt in New Jersey and are looking for a way to regain your footing, filing for bankruptcy may be the solution you need. Bankruptcy is a tool used by many to eliminate certain qualified debts. Some might think that filing for bankruptcy is exclusively for those having business or income issues. In reality, bankruptcy can help you find stability when facing a wide range of debts, including medical debt. While there is no type of bankruptcy that addresses medical debt specifically, you can file for bankruptcy to target any medical debt you may have. Because medical bills are considered unsecured debts, they are relatively easy to rid yourself of via bankruptcy. When you file for bankruptcy to address medical debt in New Jersey, an automatic stay will go into effect. This prevents creditors, like hospitals, from reaching out to you and harassing you to meet payments. Automatic stays can provide immediate relief to debtors struggling with overwhelming medical debt. If you are hesitant to file for bankruptcy to address your medical debts, speak with our attorneys. Our North Jersey bankruptcy attorneys can explain the benefits of taking this route and how doing so can help you regain stability after struggling with medical debt for so long. Which Type of Bankruptcy Can Help You Eliminate Medical Debt in New Jersey? When deciding to file for bankruptcy to eliminate medical debt in New Jersey, debtors must choose which type of bankruptcy they wish to file for. Depending on your needs, Chapter 7 or Chapter 13 bankruptcy may be preferable. Our New Jersey bankruptcy attorneys can lay out the differences between these two types of bankruptcy so that you can address your medical debt and exit bankruptcy debt-free in New Jersey. Chapter 7 Filing for Chapter 7 bankruptcy in New Jersey can help you eliminate your medical debt quickly but at a cost. Chapter 7 bankruptcy is commonly referred to as liquidation bankruptcy. This means that certain assets of yours, like your home or your car, may be liquidated to pay off medical creditors in New Jersey. For debtors with families and others that depend on them and their assets, filing for Chapter 7 bankruptcy may not be ideal for addressing medical debt. Not everyone can file for Chapter 7 bankruptcy to eliminate their medical debt. Eligibility for Chapter 7 bankruptcy is needs-based, meaning debtors must pass a means test in order to qualify. Essentially, your income over the past several months must be insufficient to pay off some of your medical debt in order for you to qualify to file for Chapter 7 bankruptcy. Our New Brunswick bankruptcy attorneys can assess your income and current medical debt to determine whether you are a good candidate for Chapter 7 bankruptcy. Chapter 13 Depending on your situation, you may be able to file for Chapter 13 bankruptcy to address your medical debt in New Jersey. Chapter 13 bankruptcy does not work through liquidation of assets but instead through a repayment plan. After you file, our lawyers will submit a repayment plan to the court detailing how you intend to pay creditors based on your income. This enables debtors to address medical debt over time without worrying about harassment from creditors. In order to qualify to file for Chapter 13 bankruptcy in New Jersey, debtors must pass a means test. Essentially, debtors must earn a sufficient monthly income to meet the requirements of their repayment plan to creditors. If you do not earn enough income, you may not be able to use Chapter 13 bankruptcy to address your medical debt in New Jersey. When Can You Be Free from Medical Debt After Filing for Bankruptcy in New Jersey? After filing for bankruptcy in New Jersey, you can remove all of your medical debt within a matter of months or years. Once you do, you can be debt-free, allowing you to move forward with your life and regain your financial stability. Depending on the type of bankruptcy you file for to address medical debt, the process may take longer. Because Chapter 7 bankruptcy works through liquidation, it is generally the fastest option. Often debtors in New Jersey can remove medical debt within half a year by filing for Chapter 7 bankruptcy. Chapter 13 bankruptcy generally takes longer to complete, especially if debtors have substantial medical debt. If you hire our Trenton bankruptcy attorneys to configure a comprehensive and efficient repayment plan, you may be able to remove your medical debt within three to five years. Ask Our New Jersey Lawyers About Filing for Medical Bankruptcy Today If you need to eliminate medical debt, our attorneys can help you do so by filing for bankruptcy. For a free case evaluation with the Marlton, NJ bankruptcy attorneys at Young, Marr, Mallis & Associates, call today at (609) 755-3115.

Filing for bankruptcy can seem intimidating to debtors, especially if they also have a reverse mortgage. Our attorneys can help you navigate bankruptcy so that you don’t your reverse mortgage agreement is unaffected. In many cases, debtors can file for bankruptcy in New Jersey if they also have a reverse mortgage. However, it is important for debtors to understand the risks of doing so. Our attorneys can determine which type of bankruptcy you are eligible to file for based on the amounts of your regular reverse mortgage payments. To ensure you do not risk losing your home while under bankruptcy with a reverse mortgage, reach out to our lawyers if you are struggling with overwhelming debt and need help in New Jersey. We’re here to help you eliminate debt through bankruptcy, even if you have a reverse mortgage. For a free case evaluation with the New Jersey bankruptcy lawyers at Young, Marr, Mallis & Associates, call today at (609) 755-3115. Can You File for Bankruptcy if You Have a Reverse Mortgage in New Jersey? Filing for a reverse mortgage can help you supplement your income and remain financially stable in your retirement. Unfortunately, if other bills and expenses have begun to pile up and become overwhelming, you may be at a loss for what to do. If you are struggling with debt, contact our Trenton bankruptcy lawyers. You may be able to file for bankruptcy despite having a reverse mortgage. A reverse mortgage is a financial agreement between a homeowner and a lender. Essentially, a homeowner will release a certain amount of equity in their home to a lender in exchange for regular payments. Often, seniors and those nearing retirement opt for a reverse mortgage to have a reliable stream of income as they age. In some cases, reverse mortgages can complicate bankruptcy. While many people can file for bankruptcy even with a reverse mortgage in New Jersey, the process can be complex. Contact our attorneys if you need help regaining your financial stability and eliminating debt. Although the terms of your reverse mortgage may enable you to file for bankruptcy with minimal risk, it is still important to ensure that your assets and reverse mortgage payments will be unaffected throughout the process. What Happens to Your Reverse Mortgage Payments When You File for Bankruptcy in New Jersey? Filing for bankruptcy can be a smart choice for people dealing with overwhelming debt in New Jersey. However, it is important to understand what happens to your reverse mortgage when you are under bankruptcy so that you are sufficiently prepared to meet the requirements of a possible repayment plan. Most likely, your reverse mortgage payments will temporarily stop when you file for bankruptcy in New Jersey. Depending on the type of bankruptcy you file for, whether Chapter 7 or Chapter 13, it may be some time before your debt is eliminated. To ensure you can support yourself during that time, you should have sufficient savings or other income streams. Because many people who opt for a reverse mortgage are retired or near retirement, and their reverse mortgage payments may be their primary source of income, saving is essential. Chapter 13 bankruptcy works via repayment plans and can take several years. In order to meet your payment dates to creditors, it is important that you have sufficient savings or income outside of your reverse mortgage payments. Remember, you will likely not receive any reverse mortgage payments while you are under bankruptcy, so speak with our Piscataway bankruptcy lawyers to learn how to prepare. Can Your Reverse Mortgage Payments Make You Fail the Means Test for Bankruptcy in New Jersey? Regardless of whether you file for Chapter 7 or Chapter 13 bankruptcy in New Jersey, you will have to pass a means test. Depending on the size of your reverse mortgage payments, your options for which type of bankruptcy you file may be limited. In order to file for Chapter 7 bankruptcy, you cannot earn a significant income. Chapter 7 is a liquidation bankruptcy. Instead of debtors paying back creditors through a repayment plan, debtors’ assets will be liquidated. Earning too much from reverse mortgage payments may disqualify you from filing for Chapter 7 bankruptcy in New Jersey. The opposite can be said for those who wish to file for Chapter 13 bankruptcy with a reverse mortgage in New Jersey. In order to be eligible for Chapter 13 bankruptcy, debtors must earn sufficient income. If you do not earn enough from your reverse mortgage payments, and if that is your only source of income, you may not have sufficient income to meet the requirements of a repayment plan. Our Mount Laurel bankruptcy lawyers can determine which type of bankruptcy you can file based on your reverse mortgage payments and other income. Then, our attorneys can help you enter bankruptcy and address any debt you may have so that you can regain your financial stability. Is Your Home in Jeopardy if You File for Bankruptcy in New Jersey with a Reverse Mortgage? Depending on the type of bankruptcy you can file for in New Jersey, your home might be at risk if you have a reverse mortgage. Our attorneys can protect your home so you can exit bankruptcy debt-free while retaining certain assets. Because Chapter 7 bankruptcy works through liquidating your assets, your home might be at risk if you have a reverse mortgage. This depends on how much equity in your home you have relinquished and how much equity you still retain. Certain reverse mortgage agreements have a caveat that allows a lender to take a person’s home should they file for bankruptcy. Our New Jersey bankruptcy lawyers can assess your current reverse mortgage agreement to ensure you don’t lose your house when trying to eliminate debt. Because Chapter 13 bankruptcy does not work via liquidation, there is less risk to debtors with reverse mortgage agreements. Ask Our New Jersey Lawyers About Filing for Bankruptcy Today If you need to file for bankruptcy and have a reverse mortgage, our attorneys can help. For a free case evaluation with the Marlton, NJ bankruptcy lawyers at Young, Marr, Mallis & Associates, call today at (609) 755-3115.

The New York Times has an article that warns about a bankruptcy filing by Bed Bath & Beyond. The article can be found at https://www.nytimes.com/2023/01/05/business/bed-bath-beyond-bankruptcy.htmlLandlords and creditors who are owed money by BBB, should take appropriate action prior to a bankruptcy filing by BBB. Landlords and creditors who are owed money by BBB should contact a bankruptcy attorney as soon as possible. Jim Shenwick, Esq   jshenwick@gmail.com  212-541-6224

The Sun is reporting that over 100 retail stores will close in 2023. The article can be found at  https://www.the-sun.com/money/7035971/retail-closures-kohls-nordstrom-under-pressure/Suppliers to these chains should proceed with caution. Jim Shenwick, Esq  212-541-6224  jshenwick@gmail.com

What Is Bankruptcy? Bankruptcy is a legal process that allows individuals or businesses to obtain relief from their debts when they are unable to pay them. In the United States, bankruptcy is governed by federal law, specifically the Bankruptcy Code. There are several different types of bankruptcy that individuals and businesses can file, each with […]

When assessing medical debt, debtors in Pennsylvania may be unsure what to do. To get relief from your financial difficulties, consider filing for bankruptcy to address your medical debt in Pennsylvania. You can file for bankruptcy to address medical debt in Pennsylvania when you feel it’s the right decision for yourself and your family. Filing for bankruptcy can help debtors facing various financial challenges, including those with significant debt or low incomes. Depending on your needs, filing for Chapter 7 or Chapter 13 bankruptcy may be best to eliminate medical debt in Pennsylvania. If you are struggling and need immediate relief from an automatic stay, call our attorneys to file for bankruptcy and address your medical debt right away. We are dedicated to helping debtors in Pennsylvania regain their financial stability and eliminate medical debt by filing for bankruptcy. For a free case evaluation with the Pennsylvania bankruptcy lawyers at Young, Marr, Mallis & Associates, call today at (215) 701-6519. When Can You File for Medical Bankruptcy to Eliminate Debt in Pennsylvania? When people hear the word bankruptcy, they may not think it could ever apply to them. In reality, bankruptcy can be a useful tool to address various stressful financial situations due to medical debt. If you are currently struggling with medical debt and are unsure what to do, speak with our Pennsylvania bankruptcy lawyers to learn if you can file for bankruptcy. Your Debt is Too High You can most likely file for bankruptcy in Pennsylvania if your medical debt is simply too high. After an accident or an unexpected medical diagnosis, you might need expensive medical treatment that disrupts your finances. Climbing out of that hole can feel impossible when considering all your other expenses, even if you have a steady income. If your medical debt just feels too high, you can eliminate it by filing for bankruptcy in Pennsylvania. Your Income is Too Low Sometimes, debtors think their medical debt is surmountable if only their income increased. Unfortunately, try as you might, you may be unable to raise your income quickly enough to tackle your medical debt. In that circumstance, filing for bankruptcy can help eliminate certain financial stressors so that you can become debt-free. Your Finances Are Unorganized For some people, financial disorganization might result in medical bills being pushed to the side for too long. If this leads to overwhelming medical debt, consider filing for bankruptcy. Remember, bankruptcy is a tool used by many to alleviate financial difficulties. Filing for bankruptcy to address medical debt can help you reorganize your finances so that you embark on the path to financial stability in Pennsylvania. Which Type of Bankruptcy is Best for Eliminating Medical Debt in Pennsylvania? When seeking to eliminate medical debt via bankruptcy, there is a big decision you have to make: which type of bankruptcy will you file for? Our Philadelphia bankruptcy lawyers can help you make the right choice so that you can target your medical debt and erase it. Chapter 7 Chapter 7 bankruptcy, or liquidation bankruptcy, works by liquidating certain assets to pay off medical creditors. For example, your home or your vehicle may be liquidated so that you have sufficient funds to pay medical debts. Not everyone qualifies for Chapter 7 bankruptcy, so contact our Bucks County bankruptcy lawyers to learn if you do. Eligibility for Chapter 7 bankruptcy is based on a debtor’s income. Basically, if you do not earn enough to pay off your medical debt through a repayment plan, you can opt to liquidate certain assets to eliminate medical debt in Pennsylvania. When you file for Chapter 7 bankruptcy, you can address your medical debt in its entirety within a matter of months. Chapter 13 Depending on your situation, filing for Chapter 13 bankruptcy may be preferable. When you file, our attorneys will devise a repayment plan based on your income and other expenses. Depending on the size of medical debt you currently have, a repayment plan might take several years to complete in Pennsylvania. With Chapter 13 bankruptcy, debtors don’t have to worry about liquidating their assets, which makes it appealing, especially to those with families that depend on them and their assets. Generally, you can exit Chapter 13 bankruptcy debt-free within several years or as long as your repayment plan takes to complete. Eligibility for Chapter 13 bankruptcy in Pennsylvania is based on income, so you have to earn a sufficient amount to meet your scheduled payments. When Should I Ask a Pennsylvania Attorney About Filing for Medical Bankruptcy? You should call our attorneys if you are struggling with medical debt in Pennsylvania. Our lawyers can thoroughly explain what filing for bankruptcy might entail so that you feel prepared and confident when regaining your financial stability. When considering filing for bankruptcy in Pennsylvania, debtors might feel discouraged. That doesn’t need to be the case, however. Our lawyers can explain the benefits of filing for bankruptcy and how doing so can eliminate your medical debt. If you are unsure about your next steps regarding medical debt, contact our attorneys for a consultation. An automatic stay is one of the initial perks of filing for bankruptcy to address medical debt in Pennsylvania. An automatic stay will go into effect as soon as you file, preventing medical creditors from harassing you to meet payments. If you need immediate relief, call our attorneys and learn more about filing for bankruptcy in Pennsylvania. Doing so will allow you the time to take a deep breath, reorganize your finances, and move forward with a plan to address medical debt. Call Our Pennsylvania Lawyers About Your Medical Debt Today If you need to eliminate medical debt via bankruptcy, our attorneys can help. For a free case evaluation with the Bethlehem bankruptcy lawyers at Young, Marr, Mallis & Associates, call today at (215) 701-6519.

 Yahoo is reporting that many FTX creditors are selling their Proof of Claims. The story can be found at https://finance.yahoo.com/news/ftx-customers-reportedly-taking-huge-201238856.htmlAt Shenwick & Associates, we helping many clients file Proofs of Claim. Jim Shenwick, Esq   jshenwick@gmail.com  212 541 6224

If you have a reverse mortgage and are struggling with debt, you may have considered filing for bankruptcy in Pennsylvania. But are you able to do that while also having a reverse mortgage? In many situations, filing for bankruptcy with a reverse mortgage in Pennsylvania is possible. Still, it can also be risky when you do not have our experienced attorneys by your side. While you are under bankruptcy, reverse mortgage payments will likely stop, so it is important that debtors have sufficient savings to get them through. Depending on the amount of your reverse mortgage payments, you may be eligible to file for Chapter 7 or Chapter 13 bankruptcy in Pennsylvania. If Chapter 7 is your only option, it is important to ensure that your home will be protected from liquidation. Our attorneys are here to help debtors with reverse mortgages successfully file for bankruptcy with little risk. For a free case evaluation with the Pennsylvania bankruptcy lawyers at Young, Marr, Mallis & Associates, call today at (215) 701-6519. Can I File for Bankruptcy in Pennsylvania if I Have a Reverse Mortgage? A reverse mortgage is a financial agreement between a borrower and a lender. Generally, seniors who own their homes are often the ones that opt for a reverse mortgage, which allows them to sell equity in their homes to a lender to receive payments. If you currently have a reverse mortgage on your home and are having difficulty handling other expenses, you may have considered filing for bankruptcy. But can you do that in Pennsylvania? In many cases, people with reverse mortgages can file for bankruptcy in Pennsylvania if they meet the eligibility requirements and need debt relief. However, there may be caveats depending on the type of reverse mortgage you have and the amount of your payments, so reach out to our Pennsylvania bankruptcy lawyers to learn what bankruptcy might look like for you. Reverse mortgages are complicated financial agreements that can be difficult to understand. Filing for bankruptcy with a reverse mortgage can be risky, especially if you enter bankruptcy without help. With our experienced attorneys by your side, you can successfully file for bankruptcy and exit it debt-free without unnecessarily impacting your reverse mortgage in Pennsylvania. Will My Reverse Mortgage Payments Stop When I File for Bankruptcy in Pennsylvania? If you file for bankruptcy with a reverse mortgage in Pennsylvania, it is important to save up. Depending on the type of bankruptcy you choose to file for, the process may be longer. Reverse mortgage payments generally stop during bankruptcy. So, if those payments are your main source of income, it is crucial to prepare. Once you file for bankruptcy in Pennsylvania, your reverse mortgage payments will likely cease for the duration of a bankruptcy. They’ll pick back up again when you exit bankruptcy, but that doesn’t help you for the period of time you are under bankruptcy in Pennsylvania. Because of this, it is important for debtors to have sufficient income from other sources or savings, especially if they choose to file for liquidation bankruptcy. The same goes for debtors who file for Chapter 13 bankruptcy with a reverse mortgage in Pennsylvania. Chapter 13 bankruptcy allows debtors to pay back creditors via a repayment plan. Generally, these repayment plans last for several years. If you are not receiving reverse mortgage payments for that period, and those payments are your main income source, you may have difficulty meeting scheduled payments and handling other expenses. Our Philadelphia bankruptcy lawyers can help you prepare for the temporary cessation of reverse mortgage payments so you can more easily handle your debt. Can the Amount of My Reverse Mortgage Payments Impact My Eligibility to File a for Bankruptcy in Pennsylvania? For Chapter 7 and Chapter 13 bankruptcy, debtors must pass a means test of sorts. Depending on the amount of your reverse mortgage payments, you may only be able to file for one type of bankruptcy in Pennsylvania, limiting your options. The type of bankruptcy you can file for depends on your income. Generally, those with insufficient income to pay back creditors are eligible to file for Chapter 7 bankruptcy in Pennsylvania, which involves liquidating certain assets. Eligibility for Chapter 13 bankruptcy is also based on income. You can opt for a repayment plan if you have a high income to support it. This process takes longer but doesn’t require liquidating some of your assets. Because most people with a reverse mortgage are retired and do not have many streams of income, they may only qualify for Chapter 7 bankruptcy. However, if your reverse mortgage payments are substantial, causing you to pass the means test for Chapter 13 bankruptcy, a repayment plan may be your only option. Might I Lose My Home if I File for Bankruptcy in Pennsylvania with a Reverse Mortgage? When you get a reverse mortgage, you relinquish equity in your home in exchange for regular payments. Because Chapter 7 is a liquidation bankruptcy, you might be concerned that you may lose your home if you file for bankruptcy with a reverse mortgage in Pennsylvania. Filing for bankruptcy with a reverse mortgage can be complicated. Depending on the amount of equity in your home you sold and how much you still retain, your home may be exempt from Chapter 7 liquidation. Unfortunately, some reverse mortgages might have a caveat that enables a lender to take a debtor’s home when they file for bankruptcy in Pennsylvania. Because reverse mortgage agreements may be complex, debtors might not know whether or not their home is at risk when they file for bankruptcy until it is too late. Our Bucks County bankruptcy lawyers can review your reverse mortgage agreement to evaluate the risk of filing for bankruptcy so that you do not jeopardize your home. Ask Our Lawyers About Filing for Bankruptcy with a Reverse Mortgage in Pennsylvania If you need to file for bankruptcy and have a reverse mortgage in Pennsylvania, our attorneys can help. For a free case evaluation with the West Chester bankruptcy lawyers at Young, Marr, Mallis & Associates, call today at (215) 701-6519.

If you receive Social Security disability benefits in 2023, you should learn the new income limits. Disability benefit recipients are only permitted to earn a certain amount in additional income each month, on top of their checks from the Social Security Administration (SSA). The earning limits for Social Security Disability Insurance (SSDI) benefit recipients have increased for 2023. The current limit is $2,460 per month for blind individuals and $1,470 for non-blind individuals. Recipients must also be aware of the monthly income amounts that might trigger a trial work period (TWP). In 2023, that amount is $1,050. Consistently earning over the allowed amounts can result in a loss of SSDI benefits for recipients. To ensure this doesn’t happen, contact our lawyers to learn more about managing your finances while receiving SSDI benefits and what to do if your benefits are threatened. We’re here to help those with qualifying conditions take advantage of the disability benefits available to them. For a free case evaluation with the Pennsylvania disability attorneys at Young, Marr, Mallis & Associates, call today at (215) 515-2954 or (609) 557-3081. What Are the Earning Limits for Social Security Disability Recipients in 2023? As a recipient of Social Security Disability Insurance benefits, any additional income you earn will be monitored and limited. Recipients can only earn a certain in additional income each month, depending on their qualifying condition. Disability recipients must adhere to the Social Security Administration’s substantial gainful activity (SGA) limit for additional earned income. In 2023, the SGA limit for blind recipients is $2,460 per month, while the SGA limit for non-blind recipients is $1,470 per month. This limit is in addition to the monthly SSDI check you receive. The SGA limit is not the only way the SSA tracks benefit recipients’ income. While you may be able to earn up to the SGA limit in additional income each month, do so too often, and you may enter a trial work period. In 2023, the trigger for a trial work period is earning over $1,050 in additional income in a month. This can be confusing for SSDI recipients, who might be unsure which income limit to follow. Our Philadelphia disability attorneys can assess your monthly income as an SSDI recipient to ensure you follow the appropriate limits and do not jeopardize your access to benefits. Why Can I Only Earn So Much While on Social Security Disability in 2023? You might wonder why SSDI recipients can only earn a certain amount in additional income each month, lest they risk their access to benefits. That is because a key element of one’s eligibility for disability benefits is that their injury, illness, or disability is severe enough to prevent them from financially supporting themselves. Social Security Disability Insurance benefits are for those who have worked for a considerable time but are no longer able to because of a qualifying injury, disability, or illness. Essentially, when you cannot earn a sufficient income because of a medical condition, SSDI benefits can help support you and your family. Suppose recipients earn over the SGA limit or the limit to trigger a TWP. In that case, such activity indicates to the Social Security Administration that recipients may actually be able to work and that their condition no longer prevents them from earning a sufficient income. Generally, SSDI recipients can only work a part-time job if they wish to earn additional income, remain under the SGA limit, and not trigger a trial work period. The SGA limit for disability recipients changes each year. The Social Security Administration raises the limit annually, as it did for 2023, to account for inflation and other factors. If you need help adjusting to the recent increase in the SGA limit, reach out to our Bucks County disability attorneys. Staying up to date on the current additional income limits for SSDI benefit recipients is important so that you can keep your finances in order and maintain access to benefits. What if I Earn Too Much in 2023 While on Social Security Disability? If you earn too much while on Social Security Disability Insurance benefits consistently or even in one month, your access to benefits may be threatened. Earning over a certain amount in a month can trigger a trial work period, which might result in a loss of benefits if left unchecked. Earning over the SGA limit might also result in a loss of benefits for the months you had too much additional income in 2023. Trial Work Periods Trial work periods are automatically triggered when SSDI recipients earn over $1,050 in a month in 2023. Trial work periods last for nine months, after which the SSA might consider your condition removed. These nine months do not necessarily have to be consecutive but must exist within a rolling 60-month period. So, if you earn over $1,050 over nine months, the SSA might revoke your SSDI benefits following a 36-month extended period of eligibility, also known as the SSA’s grace period. This can be frustrating for recipients, as TWP months do not have to be consecutive and are automatically triggered, often without recipients’ knowledge. Our Quakertown disability attorneys can identify trial work periods and prevent you from losing access to your benefits during a grace period. Loss of Benefits You may lose access to your benefits if you earn over the SGA limit for SSDI recipients in 2023. Earning over $2,460 in a month as a blind recipient or $1,470 as a non-bling recipient will most likely mean that you do not receive your SSDI benefit check for that month. Consistently earning over the SGA limit might result in a loss of benefits entirely. It is important to be aware of the current SGA limit for disability recipients, as the SSA takes earning over the allowed amount very seriously. Doing so might indicate that you can work and earn a sufficient income, which might cause your monthly SSDI benefit checks to cease. Call Our Attorneys About Your Social Security Disability Claim Today If you are an SSDI recipient and want to learn more about income limits for 2023, reach out to our lawyers. For a free case evaluation with the disability attorneys at Young, Marr, Mallis & Associates, call today at (215) 515-2954 or (609) 557-3081.

What is Bankruptcy? Bankruptcy is a legal process that allows an individual or business that is unable to pay its debts to either restructure or eliminate those debts. The bankruptcy process is governed by federal law, and is administered by the courts through a bankruptcy trustee. Types of Bankruptcy There are several different types of […]