Overpayment Puns

Hi, have lurked for a while - thought I’d seek out some advice.

I have a £285k, 2.5%, 35yr mortgage. I am 32. I pay around £1k in mortgage payments, and currently a monthly £120 overpayment (well within the 10% overpayment limit). This should shorten the term by around 5 years. I’d like to be mortgage free as early as possible.

Background on me - I could increase the monthly payment to £200-300 if I desired. I also receive an annual bonus so could make a lump sum as well.

We don’t have any big debts, but no savings either really. I’d use this years bonus to kick start the savings.

Are mortgage overpayments worth it?

I've mentioned this in a couple of threads but wanted to share it explicitly as it came as a surprise to me when I found out earlier this year. Many people are probably not aware of the fact that it's often possible to overpay way more than the 'usual' 10% per-annum, without penalty.

Earlier this year I called my lender to clarify the exact amounts I could over-pay, as I didn't want to fall foul of overpayment limits, and either have my monthly payments reduced (thereby paying down the capital less quickly) or incur a fee.

I was slightly flabberghasted when I was told that my current Barclays mortgage allows me to pay up to three times my monthly payment amount, every month, without penalty. Better still, the over-paid funds are considered an 'offset', which means that should I get into financial difficulty in future, I can consider these 'advance payments' like an offset, and use them to get a reduced payment or payment holiday until I've 'used them up'. Note that my mortgage isn't an 'offset' type mortgage at all, it's a normal repayment loan.

What this means in practice is that if you have (say) a £250k mortgage, with payments of approx £1500pcm, you could actually pay a smidge under £4.5k per month, every month without penalty. This means you could actually pay around £54k into the mortgage in a single year, without any penalty. The key is that as long as you don't exceed the 3-times-monthly-payment, the lender won't reduce the monthly payment amount - which means they only count as 'extra' payments, and don't count towards the usual 10% overpayment limit.

I was so surprised, I called my lender back again on a second occasion to validate this (knowing that calls are recorded). I also discussed this with a friend - who found the same thing with his (non-Barclays) mortgage. It turns out it's pretty common.

So if you have spare cash, and want to significantly overpay, look into this - if your lender allows it (which by all accounts many/most do) you could pay down the mortgage much more quickly than you think, without any penalties/fees. Probably worth checking explicitly with your lender to be sure though!

Edit: a few people are pointing out that overpaying might not be the most efficient use of cash given inflation and investment returns at the moment. That is potentially true, but it all depends on your risk profile etc. My goal is to be debt free in the next 2-3 years, and I want zero capital risk. Others might have different strategies. The p

Looks like the TSP overpayments will be fixed this month. My January LES is showing a lot less than expected for the TSP in the Deductions tab, but the YTD deduction in the TSP tab is showing the expected value based on my contribution percentage. The difference between the two is exactly equal to my overpayment from last year.

Based on our income we borrowed the most we could ... then the provider was happy for us to repay £800 a month, which then determined the length of the mortgage ... we've up it to repay £1000 a month, which still lets us save money each month.

When interest rates are doing what they are, it doesn't make sense to save all our money, we might as well chip away at the mortgage a bit more!

My Overpayment of over 20k was waived by the state. The amount of stress and relief lifted off my shoulders cannot even be put into words. As a young college student I thought my life was financially over, but the waiver was accepted, if you are in the situation I was in please apply for the waiver you won’t regret it!!!!!! (Non fraud / Not at fault) OP’s only get accepted PUA

THE CLAIMANT FILED AN INITIAL CLAIM FOR UNEMPLOYMENT BENEFITS EFFECTIVE 03/29/2020 BUT FAILED TO SUPPLY THE APPROPRIATE DOCUMENTATION TO PROVE THEIR IDENTITY WITHIN 21 DAYS OF 07/07/2021, AS REQUESTED. (yet I never got anything electronically or in the mail asking me to do this) IT IS DETERMINED THAT THE CLAIMANT FILED AN IMPROPER CLAIM. THEREFORE, WITHIN THE MEANING OF SECTION 8-901 OF THE MARYLAND UNEMPLOYMENT INSURANCE LAW, BENEFITS ARE DENIED AS INDICATED BELOW.

They're asking me to pay back the full amount of unemployment I received almost 2 years ago, when my workplace laid me off when COVID first hit, due to this. I have filed an appeal as this is not on me. Has this happened to anyone else?

I filed my appeal, but now need to send out my waiver (it's already finished). But the thing is I could have sworn there was an email for it? Please tell me there's a way you can file it electronically and it's not just a mail submission.

In case you did not get the email yet do NOT pay these people. They know damn well that not everyone was 'overpaid' but went knocking on us anyways to see who would pay up. I hope someone has some legal action in process because some of these 'overpayments' they want back are insane.

Who do you know that has 10 to 20 grand laying around even if they have been employed for years?!

I attached the notice I got in email today. Hopefully they just drop this completely as it was obvious to me the State was out of money and looking for a way to make some quick cash when they hit everyone with the same BS all of the sudden. Here is the email I got today:

https://preview.redd.it/1j04lob90qd81.png?width=2199&format=png&auto=webp&s=f481d5b36391abce36484a32ce456e40a95824e2

So around the beginning to middle of last year, i received a determination of overpayment. for a little over $12,000!!! i wanted to throw up, but i just KNEW a mistake had to have been made so i didn’t panic as much as i should have at the time. I just simply filed in all my information in the overpayment waiver and prayed someone would contact me. Every month that passed i got a little more worried. I am a stay at home mother thanks to the pandemic and i still haven’t been able to get a job bc i cannot afford bills, let alone daycare for my son. i was denied every single form of help last year, pandemic or otherwise, and have just been suffering ever since. but i just KNEW i’d be okay. fast forward until a week ago, i checked if anyone had sent me ANYTHING AT ALL about a determination and they didn’t. it’s been at LEAST 6 months since i sent the appeal. I filed my taxes because i didn’t know what else to do at that point and i REALLY need the money because the apartment i’m being forced to live in is practically condemnable in every single way and it’s dangerous for me and my kids to live here now. We didn’t even have hot water for most of the month due to issues with the pipes. It’s been true hell.

Well LOW AND BEHOLD, so conveniently, after filing my taxes and realizing i will actually have the money to pay rent and maybe move out, they sent me a ******* DENIAL saying it was through fault of my own that this happened. I’m confused as hell considering i did everything i was always supposed to do and had to fight for MONTHS to get my PUA money both times!! I am going to file an appeal, obviously, but now i’m terrified for me and my kids. My questions are:

What is the best way to file an appeal? They did not give me the option to file on the website.

Will they actually take all my money from me since they magically decided to deny my overpayment waiver 7 months later exactly 5 days after i filed my taxes?

How long do appeals usually take?

Should i get a lawyer?

If anyone recognizes me from before or reads my past posts, you’ll see how much i’ve suffered since the beginning of this hellish process. I have noo where to go and no one to turn to, and i’m sick to my stomach and terrified. Someone please help me…

Help! So this is the first time this happened but basically i got an email update that my osap has been updated and it states that I got paid $66 dollars more than I should have. And I think thats its because ryerson was late to apply my renewal scholarship this semester so it got applied after osap was applied for the tuition ( idk if this was the case for anyone else too), but what should I do? Kinda worried here.

I was recently approved for the remaining balance of my SL to be forgiven in the amount of 90k. When i was confirming this information on the phone with a CSR from FedLoan she mentioned I am due a refund for overpayment. How can I find what this amount will be or how many payments I made beyond the necessary 120? I’ve looked everywhere on studentaid.gov and fedloan’s website, but I dont see anything. No negative balance and no amount in parenthesis.

I'm kind of confused, I had a outstanding balance for overpayment and filed an appeal. But last couple days that outstanding balance is at 0... anybody familiar with this? And yes I know to contact them.

i was on unemployment for over a year because covid shut down my company. i don’t know why i owe them, but they are saying they overpaid every cent. i tried to appeal it but haven’t heard anything in months. will they garnish my tax refund? i’m still being impacted by covid to this day and don’t think i’ll make it through without that refund. any advice or information is appreciated.

Hey has anyone else received an overpayment notification? I haven't had any unemployment payments after the PUA expired and I now randomly received money in my account! This does not make sense

Anybody win their appeal and was told to fill out an overpayment wavier

I thought the overpayment was supposed to just go away

I am thrilled to see a zero balance on myfedloan and $63,000 remaining balance zeroed out. I would not have qualified for PSLF until the waiver (Thanks Joe!) because I was on the incorrect payment plan. Because of this, I have been making extra quarterly payments on my loans. The past 3 years, each quarterly bonus from my employer has gone directly to my student loan principle as an extra payment. Thus, I have 122 regular payments (including this forbearance period) but I also made approximately $60,000 in additional principle payments, these are separate payments. Is this money gone or is there any way to request a refund of the overpayment? I’m not complaining and I’m so relieved to have my loans finished but if I was owed a refund of my overpayment, I wouldn’t turn it down 😉 Thank you in advance!

Quick question those of us that get SSI and are able to work part time. Have you ever gotten overpayment mails?. I just want to state that i report all my wages correctly everytime as I can clearly see them on primepay page. This is the second time they done this. and like i said. those of on ssi at least here in florida we have a limit as to how much we can have on my on our bank. my limit is 2000$. but im thinking to just go over the limit and stop having ssi as they aren't giving me the basic things such as the dentist or most importantly my physical therapy. (I know its through the insurance they give me) but its literally the same thing.

Besides them cutting my benefits and money which right now im only getting 154$ as im working 3 days a week. is there anything else they are gonna annoy me about when i go above my 2000$ limit?. i just can't stand them. like ive said this is the second time they sent me an "Overpayment" letter. when i report all my wages correctly. therefore its not my FAULT its their and sending a waiver is not gonna work as i already did that two years ago. and they said "Not our fault mr ramos" so i ended up paying them

I included a letter, however, with my name and SSN on it, and an explanation for why I sent the check. I did not include my SSN on the check though. Is this going to be an issue?

Thank you.

Hello! I’d be so appreciative if anyone could help me out!

Three weeks ago EDD called me and asked if I had worked while on unemployment. I hadn’t. The rep then cited that I got a $700.00 check while I was on benefits. I have come to realize I got one writing residual check while on unemployment. I honestly didn’t know that counted as income and was in the middle of switching managers (who typically handle my writing payments). The rep was clearly busy and wouldn’t stay on the phone for follow up questions. I was panicked and wanted to know if I was going to be fined, what the fine would be, etc. She just said, “appeal if there’s a problem.”

I’ve been wracked with anxiety since waiting for the formal letter to come with the information. I know I’ll only have a short window to appeal (based on what I’ve researched online. I’m so worried the letter got lost in the mail and my window is closing! Do I call EDD and ask for a letter? Or is this wait time average? Is it best to let it be? Will the fine be outrageous? (I see horror stories of 10k fines!) I feel like I made one honest mistake over a year ago, but I am very concerned because of how complicated and evasive all things EDD tend to be.

Any information would help. Thank you!

Long story short, I had filed for unemployment benefits in the state of Tennessee during the start of the pandemic. When things were really starting to get crazy, and I was in between jobs at the time, everyone was telling me to file for unemployment. So I did, and I was approved for a benefit which paid out for a few months.

Fast forward to about a year later, I got a notice saying that I was not entitled to the benefits and they want the money to be paid back. I went through an appeal process and they basically told me their system auto-approved my claim due to the high volume of claims, and I never qualified for benefits, which is absolutely insane if you think about it. In essence, you can look at it as me taking out a loan without knowing.

I can't pay this money back. The amount they want would constitute half of my life savings while we are currently in the middle of an economic crisis. I literally did nothing wrong other than file for benefits during a global crisis. I had no way of knowing ahead of time that I didn't qualify, I was looking for a job until they started telling people to stay home. The only option I have left is to file a request for a waiver, where I basically beg for mercy. I'm in the middle of writing this waiver, but wanted to see if anyone has experience with something like this before I write out the whole thing. Thanks.

Hello I got two questions. At the moment, I am trying to appeal the disqualification for PUA payments. Not sure how long that is gonna take, but I want to prepare for the overpayment process if it comes down to that. When the moment comes, do I have to pay it all back at once? Or is there some kinda monthly setup? Also will there be interest or fees on the amount I have to pay back with monthly?

Second Question.. they asked me to show proof of employment from jan 2020 to apri 4th 2021. I didn't really have an income in 2020 (few hundred dollars between jan 2020 to dec 2020), but I did my taxes anyways. I sent them my income tax 1040, but they say I made hardly anything. However, in start of 2021, I did make a bit more money, but it was through Patreon, which is a platform where people pay me monthly to get access to content. I made a few thousand dollars for the first 3 months of 2021 which is within that time frame they are looking for (jan 2020 to april 2021). Would the patreon payout to my personal bank transactions/statements be enough as proof?

Yeah.. I gained some proper money for first few months of 2021, but then it dried up and its the only reason why I applied for unemployment later in the year.

Forgive me if this sounds convoluted. I have been paying on my student loans since 2006. The PSLF started in October 2007. In November or December of 2007 I contacted Navient (it was Sallie Mae at the time) about enrolling in PSLF and submitting certification. I was told that I had the wrong type of loan and did not qualify for the program. That was it, no information about consolidating to Direct Loans. Several years went by and a friend asked me if I was in the PSLF program and I told them that I had the wrong loan type. I was then told about the consolidation process. I called Navient again and was told there was nothing that they could do to help me. My friend said to go to the Fed web page and I was able to navigate my way into having my loans consolidated into Direct Loans.

By this time I had been making payments to Navient for quite a while and also making additional payments as I could. When my loans were consolidated the income based payment plan would have me paying off the loans in 7 years and based on the original rules I would have not gotten any benefit from the program. I decided to take the regular payment plan since it was less than my prior payment and I could still make extra payments if I wanted.

When I got the letter about the TEPSLF I went right to work and got the form/certification turned in. I was notified on December 22nd that my loans had been forgiven. I called and asked about refunds for overpayment and was told that they were still working on it.

On December 28th I got 33 emails from my bank saying that there had been deposits made. I also got 7 checks in the mail that were also dated December 28th. Don't get me wrong, I am quite happy to get my loans forgiven and the refund. However, I feel duped by Navient when I called and asked them about the PSLF program in the first place.

Had I been given the correct information by Navient to start with I would have been in a much better position. Based on my calculations I would have received another ~$70,000 in refunds. It's very frustrating!

I share custody with my daughter’s father and we switch off every other year of claiming her. He received the 3rd stimulus for her based on his 2020 taxes. I am doing my 2021 taxes and claiming her since it’s my turn. TurboTax is saying I am getting a rebate of the $1400 I was supposed to get for her in 2021 even though it was paid to him. Is this right? Is he going to have to pay back the $1400 he received March 2021? Is this going to stall our refund? I have read about double dipping happening with other dependent situations. Trying to decide if I want to pay for someone to do my taxes this year? Any help is appreciated! Edit* I am not referring to the advanced child care credit. We both opted out since we alternate years.

So I was requested to provide proof I was employed before to qualify for PUA. I submitted W2 forms but I am not sure what happened and I got the disqualification letter today.

Looking at my payment history none of them say Disqualified. All of them just say Paid. I am worried I will be charged overpayment after this letter. Do people usually receive overpayment notice right after the disqualification letter?

I’m getting a decent chunk of cash in March and wanting to overpay my mortgage by £3,000. I was wondering what the overpayment rules are?

It is with HSBC and it states that anything over 10% of the current balance at the start of the year will incur an overpayment charge. Does that mean if I have £100,000 left, I can only pay £10,000?

Thanks!

I quit my GoC job in October and gave a month notice prior to my departure. I then received a notice of overpayment at the end of November. The notice said I used vacation balance that I didn’t have. Which is confusing because I worked many OT hours and also never took vacation if I would’ve gone into the negative.

Some context, I had to take a month long mental health leave from work stress at the beginning of the year. I was advised by my manager at the time that the fastest way to get me that time off would be to use up whatever I had for vacation and sick days as well as whatever I had in lieu of all the OT I worked. I was also told it wouldn’t affect any of the vacation days that I’d take down the line.

They already took 550$ off my last pay check and want me to pay over 100$ more for the supposed vacation days I had taken. I already filed an annex B and they sent back that I still owe money despite me not agreeing with what they’ve said.

Any advice on how to move forward would be greatly appreciated. Overall this has been a pretty awful experience and I feel like Josef K in the trial by kafka.

I was overpaid in June. I didn’t know it at the time because the salary policy at this new-found company is not really clear. They discovered this in October. Now they claim I owe them $800. The company is an online school and it is not licensed. There is no contract and no proof of wrong amount paid. What should I do? The owner/founder is clearly trying to gain my sympathy to pay him the amount. Also he refuses to write any contract, at least “not now” as he says.

P.S: the supposed correct salary is really not enough and he says that this job is like a “freelance” job and should not be the main job, as he says.

If a deeply conservative state like Missouri can do the right thing for the non fraud overpayments, why not places like California.

States are clearly able to waive the federal portion, which is the largest chunk, why not have this be the standard policy.

The overpayments are debts that cannot be easily repaid, and those who are not fraud should not suffer.

https://fox2now.com/news/missouri/missouri-senators-want-to-forgive-overpaid-unemployment-benefits/

I have a few questions on how to handle this situation. When my husband was young he was diagnosed with an autoimmune disorder called Primary Sclerosing Cholangitis (PSC). It’s a disorder that tells the immune system that his Liver is a foreign entity in the body and instructs the immune system to kill the liver as it would any other invading object. This results in liver pain that persists to this day. He was also diagnosed with Ulcerative Colitis(UC) as a symptom of his PSC.

After his diagnosis his mother worked to get him on Social Security benefits because at the time (young 20s) he was unable to work due to the two conditions.

Time passed, we met, fell in love and got married. He made some major changes to his diet and lifestyle that resulted in his UC going into remission! Huzzah!

Without UC governing his bathroom visits he has been able to manage his liver pain and rejoin the work force. We understood this meant his SSDI benefits would stop.

To our surprise they did not in fact stop. Upon each Social Security request for paystubs we obliged them with the required documentation. In addition to this we have been filing our taxes every year, fully disclosing our household income. Despite this not only did payments persist, they increased! Jumping from $300+ after our marriage in 2014, to $500+ after he had began working, and then again to $800+!

At the end of 2019 we finally received the letter that I had anticipated so many years before, that his benefits were up for review and subject to cancellation. This is not the issue as we had been expecting this. However certain global events transpired resulting in a hold on the cancellation of these benefits. This month we received a letter from Social Security confirming that the hold has ended and my husband is in fact subject to cancellation of benefits. To the best of my knowledge, It wasn’t disclosed to us that they would be expecting to be paid back for all those years they continued to pay him! (naïve I know)!

They are asking for the full amount $26000+ within 30 days! I know we could pay in installments but Searches online suggest that SS would want the funds paid within 3 years! $700+ a month is more than our monthly mortgage payment and frankly I don’t know if it is doable. Furthermore I feel entrapped into a debt I wasn’t aware we were accumulating. We provided all the details of his employment upon request. I trusted that they would cancel his benefits immediately upon it being determ

Hey guys, I recently received the dreaded overpayment notice and I was wondering if anyone knows if these outstanding overpayment balances can affect my credit score? I submitted an appeal but I'm worried that they may ding my credit score which would be a huge bummer. Online it says that they'll just collect the balance out of my benefits overtime if I don't pay them back directly which seems like the best option, but if they have the ability to mess up my credit score I think I'd rather just pay the balance right now.

I just had overpayments deducted from my paycheque. At no point was I notified about the overpayments so I have no idea what they are about or when I was overpaid, nor was I given options for repayment. I thought they had to inform you about overpayments before recovering them, or is that not the case?

We all know the unemployed are frequently stuck waiting for benefits while a claim is under review.

It seems fair that if someone is facing an overpayment, they should be allowed to attempt their appeal, without being subject to the worry of aggressive collection efforts.

The person claiming they thought they were eligible may not be a valid excuse, however, they still should be allowed to seek any appeal/waiver.

Paid the wrong credit card resulting in overpayment of secondary credit card. Requested bank to start a refund request to credit card as per Capital One. This was done and I have a reference number. I have confirmed the money was reversed on the credit card bc the over payment is gone. Capital One has confirmed the money has been sent to central one... but the money still hasnt appeared in my bank account. The bank has told me they have no idea where the money is. What do I need to do to have the funds refunded? Who is responsible if it was sent to the wrong bank account?

Thanks in advance

This makes no sense because when you actually think about it , what about the people who had claims made in their names due to fraud and still have no idea ? What will EDD do about those people they wouldn’t know until it’s too late. People were creating claims for people who lived in other states , prison and even deceased. I just don’t understand what will EDD do about that and how will they get around it.

Haven't checked Connect since June/July when I stopped receiving unemployment benefits because I went back to work. I randomly logged in today to download my 1099-G and saw that I needed to complete some waiver because my first two PUA claims/payments of 2021 were deemed ineligible in August, and now I supposedly owe back an overpayment. I never received an email nor a letter in the mail about this determination back in Aug/Sept, so obviously I never appealed it.

What are my options now? Just fill out the waiver? Or can I claim I never got notice of the determination and still appeal it first? Thanks.

If so, when and how soon after that did you receive the money? I received the letter in October and have not gotten the money yet. It's been 3 months.

Hey guys, fairly self explanatory but my friends old job has over payed her by £1000 on her final pay check. They payed her for a whole month rather than a half month.

She is no longer employed by this company and they are asking for the money back immediately. This pay check is dated for Oct 2021 and they no longer have the money.

What should she do? In the UK btw

So, my question here is to do with my mortgage tracking the current interest rate. I have regularly been paying £X each month and additional regular overpayments. So, yesterday I get a letter from the bank advising me that the interest rate has increased and, as expected, this would impact my monthly amount.

However, due to said overpayments, the revised monthly mortgage payment is a figure roughly £90 lower than the original one. I had this confirmed by the bank when I called to query there was no admin error.

But my question here is that until the interest rate actually changed, I was still expected to pay a minimum amount of the original £X each month. I'm only now seeing the benefit of the overpayments and a revised figure since interest rates changed. Is there no way to have that monthly amount revision more often? Do I even want that if I still intend to pay the same amount each month inclusive of the usual overpayments?

I called the EDD today and I self reported that I made a mistake last year not reporting my self employment while receiving UI and spoke to one of the person from Overpayment took notes told me that Is good that you are reporting it and put me on an Interview Call . I ask him what is the result of this he said I may have to pay them Back. I don’t have a choice but I guess to pay them back .

to someone who’s the same boat you’re not alone and to those who’s not yet knowing they made a mistake act now before it’s too late . I’m stressed 😩

Hi there! I was receiving a few emails from UI last week and typically tax forms are ready at this time. Log in to see that I have an overpayment of $40k. I am terrified. I am a part time hospitality worker and full time student.

According to UI every single payment they gave me since March 2020- May 2021 is now being considered an "overpayment". Which is totally false. I spoke to a few MD UI agents this morning and informed me to fill out the appeal in the Beacon Portal and to do the overpayment waiver. Also to provide any additional information. So I need to upload over 50 paystubs that prove I wasn't working. The other kicker is that currently i am dealing with an issue with my employer because I am missing funds from a check...

My question is, do I need a lawyer for the overpayment waiver and appeal? I would prefer to have a professional deal with this to ensure the best possible outcome. Any advice or suggestions are greatly appreciated.

My Overpayment of over 20k was waived by the state. The amount of stress and relief lifted off my shoulders cannot even be put into words. As a young college student I thought my life was financially over, but the waiver was accepted, if you are in the situation I was in please apply for the waiver you won’t regret it!!!!!! (Non fraud / Not at fault) OP’s only get accepted PUA (also didn’t realize this was a California thread, however PUA is a federal program the rules apply to everyone)