At no point in United States' long history have there been interruptions in Social Security checks? Every month these are delivered to millions of citizens regularly and efficiently. However, it is possible that this will change from next month. Therefore, the beneficiaries have to be prepared for it.
Due to multiple political problems, there is a likelihood that millions of people will be affected. However, this is only a possibility and nothing is certain at the moment. You just have to know the possible causes of this problem and take precautions. Today at The Look we will tell you everything that happens with these payments.
Possible reasons for non-payment
Currently, the US Congress is in full discussion with the White House. The issue is the accumulated debt that the country has, which has reached historical figures. For that reason, many politicians have questioned the decision to continue increasing the debt, given that it can hurt the country in the long term.
Consequently, Social Security checks may be affected starting next month, due to lack of liquidity. This could harm the lives of around 27 million residents. Among them, the vast majority are part of vulnerable groups for various reasons. So, this could lead to serious problems in the country.
Keep in mind that many of these beneficiaries cannot afford not to receive the Social Security check. They need it to pay for basic services or cover their monthly debts. So, the lack of these benefits could cause millions of citizens to end up bankrupt or in precarious situations.
Risks of Not Receiving Social Security Payments
Not receiving Social Security payments can leave anyone in danger of financial instability. Especially those who have monthly checks as their primary source of income. The loss of these for one or several months could generate large-scale disasters. Among the main risks to be highlighted, are the following:
- Problems paying for basic necessities such as food, shelter, and medical care.
- Late payments of bills and debts, which damages the credit rating and generates long-term financial problems.
- Access to health care coverage is lost because Medicare premiums need to be paid.
- Many retired or disabled people will have to rely on family or friends to survive.
- There is the possibility of becoming homeless or having to move to a cheaper one.
- Essential medicines or regular medical services cannot be paid for.
How to survive in the absence of the Social Security check?
Each person's individual situation is different from that of others. However, it is a universal conclusion that losing Social Security checks can be very dangerous. For that reason, it is always important to have a contingency plan that allows you to reduce risks. In case you don't have one, follow these tips:
- Look for a part-time or full-time job that suits your experience or ability.
- There are charitable or non-profit organizations that offer help to people in need.
- Take out low-interest loans to cover the lack of income.
- Sell your non-essential items to pay off outstanding debts.