The Social Security administration

The main functions of the organization are to oversees and runs the social security program. The main functions are also included are the retirement income and disability income and programs managements. The SSA is main responsible for the social security number, management, administering and program finances and trust funds and every issue about the financial report. The ssa dealing with debt is also one of the major functions as all the financial matters of the person are linked with this and this is considered as the vital part for the retirement of the person.

Understanding the SSA:

The SSA is the most important as the it is the vital part in the retirement plan and income planning of the person and particularly the savings of the person. The main aspect is the benefits of the funded and payroll taxes of the employees and the self-employed statusy.  One may borrow money for some reason or so and cannot pay it back as they might lose a job or death or any kind of the unforeseen circumstances. The social security benefits one shows the source of the income and the private creditors and debt collectors have the limited options to get there Monet as the money is deposited direct to the bank.

Collection:

If there are sustainable amount of the debt the credit firms or the companies may give up easily collecting the amount as the makes up source of income for the person and the credited and the debt collector have no other means to recuperate the money which they owe this. The companies may opt in taking other actions and if they cannot access the SSA funds and collect the debt.

The actions:

The creditors may be report negative information to the credit bureaus and the late payment charges may be included with the derogatory credit information may lower the credit score and credit line up and make the finical qualifications harder. The collection accounts may also result in the additional credit damage even if the credit line is the decent shape and some lenders may ask to pay of the outstanding amount and then qualify for the new financing systems. Some may lead to court and create more problem if the debt is to high amount.

Summing up:

The SSA is the most important as the it is the vital part in the retirement plan and income planning of the person and particularly the savings of the person. If there are sustainable amount of the debt the credit firms or the companies may give up easily collecting the amount as the makes up source of income for the person and the credited and the debt collector have no other means to recuperate the money which they owe this