Residents in Pennsylvania are aware that there are various factors affecting Social Security Disability benefits for residents all over the nation. Not only has it been presumed that the benefits are set to run short in 2016, but the backlog of appeals is causing those seeking and requiring this benefit to worry. Those seeking Social Security disability, or SSD, should be aware of the current event surrounding the situation and what legal options they might have regarding it.
Due to the government's tightening of disability claims, one of the nation's largest Social Security disability firms, Binder & Binder, filed for bankruptcy protection recently. The purpose of a Chapter 11 filing is to restructure debt. The Firm's filing was in response to the shrinking number of people seeking SSD benefits and the tougher scrutiny from the Social Security judges that decide the cases.
Data indicates that a number of the judges who paid high amounts of benefits to SSD applicants in the recent years have been either placed on leave or left the agency. In addition, the agency has also tightened its controls.
So, what do these changes and bankruptcy filing mean for their active cases? It was reported that the Chapter 11 filing would not immediately affect either its 966 employees or its nearly 58,000 active cases. While it might be concerning for those currently seeking SSD benefits through the national SSD firm, they should understand that this does not impact or shift their rights or options.
Those concerned about their situation regarding Social Security benefits, applications and appeals should seek advice about their legal options. This will ensure they are knowledgeable about their situation, and take appropriate action to protect their rights and interests.
Source: The Wall Street Journal, "Social Security Disability Firm Binder & Binder Files for Chapter 11," Sara Randazzo, Dec. 19, 2014