MuzikGurl

2 Contributions 0 People Helped

Member Since: May 2012

Activity (2 Total Contributions)

what happens to my credit if I have my student loans written off because of disability?

Oct 21, 2014
wendyh2000

You are incorrect. I have been on SSI and Disability since 2000 and I have never had to pay any taxes on the money I receive from the government. You do not have to pay taxes on government payments! It was no different than when I was in college and doing work study program the max I could make was 500 dollars but since it is a government program and paid through an account similar to financial aid I never was required to pay any tax on it. This is another reason why they also cancled the program when 9/11 hit because it was costing too much funding...but they have since re issued it and it's now open. They do not advertise this but it is available only for those receiving financial aid and are going to school full time. Government money is a whole other bracket. When receiving SSI and Disability payments monthly you can choose to have a small amount deducted from your checks and held until tax season but to me that's pointless because I can't afford to have anything withheld hince why I am on the assistance in the first place. I do around the 1st of the year I receive a form which looks like a W-2 form but since I have had nothing withheld I do nothing with the form..I don't deal with taxes at all.

did nothing, my score went up?

Oct 22, 2013
Mine too!!!
Helpful to 0 out of 1 people

I noticed this..my husband and I went in to get a credit check with a home lender and that is all the activity I had done on my credit in over 6 months and two days later my score nearly jumped up 15 points on one, 20-30 pts. on another, and 2 points on another! I was shocked...I'm not complaining but this makes a big difference in our home lending process and I don't want to get too happy if it's an error...it's strange...! :-)