Up to 15 percent of Social Security payments can be levied by the IRS to settle things like overdue tax bills. Payments can also be garnished for child support, alimony, or restitution.
If you default on student loans, the Department of Treasury can withhold up to 15 percent.
On the other hand, Supplemental Security Income (SSI) can't be levied or garnished by private lenders, credit card companies, debt collectors, or medical providers, according to Go Banking Rates.
Allyson Good curates senior living, health, and family content. She is formerly the Managing Editor of Active Life, a print newspaper published in 2016-2017 for seniors, choosing practical articles on health, money, safety, and everyday living for older readers. She is also an avid gardener and offers up Garden Hints and Tips on a regular basis.
