How to Protect Yourself from Financial Scams Targeting People with Disabilities

People with disabilities are often targeted by financial scams, including Social Security fraud, fake disability benefits, and predatory lenders. Scammers know that SSI and SSDI recipients rely on a fixed income and may be vulnerable to fraudulent schemes.

This guide will show you how to identify, report, and avoid financial scams while protecting your personal and financial information.

1. Common Financial Scams Targeting People with Disabilities

A. Social Security & Disability Benefit Scams 🚨

Scammers impersonate Social Security Administration (SSA) agents and claim:

• Your benefits are being suspended due to an issue.

• You owe money and must pay immediately.

• They need your Social Security Number (SSN) to verify your account.

✅ How to Spot It:

• SSA will never call you to threaten benefits or demand payment.

• Legitimate SSA notices come by mail and can be verified at SSA.gov.

• Never give out your SSN over the phone.

📌 What to Do: If you get a suspicious call, hang up and report it to SSA at 1-800-269-0271.

B. Fake Disability Grant & Assistance Scams 💸

Some scammers promise “free disability grants” or fast-tracked benefits in exchange for a fee.

• They may send fake emails or websites claiming government assistance is available.

• They ask for bank details or an upfront payment to “process your application.”

✅ How to Spot It:

• Real government grants don’t require upfront payments.

• Verify all government programs at Benefits.gov.

• Avoid any offer that sounds too good to be true.

📌 What to Do: Report fake grants to the Federal Trade Commission (FTC) at reportfraud.ftc.gov.

C. Predatory Loans & High-Interest Credit Offers 🏦

Some lenders target SSI and SSDI recipients with:

• High-interest payday loans (often over 300% APR!)

• Advance loan scams that require an upfront fee

• Fake debt relief services that charge large fees but don’t settle your debt

✅ How to Spot It:

• Avoid any loan that requires upfront payments before approval.

• Look for low-interest alternatives from credit unions or nonprofit lenders.

• Check if the lender is licensed in your state.

📌 What to Do: Report predatory lenders to the Consumer Financial Protection Bureau (CFPB) at consumerfinance.gov.

D. Identity Theft & Phishing Scams 🛑

Scammers use phishing emails, fake websites, and phone calls to steal personal information and access bank accounts.

• You receive an email or text message claiming to be from your bank, SSA, or a government agency.

• They request login credentials, SSNs, or financial details.

✅ How to Spot It:

• Government agencies never ask for personal info via email or text.

• Legitimate websites end in .gov (e.g., SSA.gov, Benefits.gov).

• Watch for spelling errors and urgent threats in emails.

📌 What to Do:

Don’t click suspicious links—go directly to the official website.

Report phishing emails to [email protected] or reportfraud.ftc.gov.

2. How to Protect Your Finances from Scams

✅ Monitor your SSI & SSDI payments using a trusted banking app.

✅ Enable direct deposit so benefits go straight to your bank, avoiding mailed checks.

✅ Freeze your credit report to prevent identity theft at Equifax, Experian, and TransUnion.

✅ Never share personal or financial information with unknown callers or emails.

✅ Use Purple to track your benefits and report any unexpected changes.

3. What to Do If You’ve Been Scammed

If you think you’ve been a victim of fraud:

1. Report it to the FTC at reportfraud.ftc.gov.

2. Contact your bank or credit card provider to dispute unauthorized charges.

3. Place a fraud alert on your credit report at IdentityTheft.gov.

4. Notify the SSA if your SSN was stolen by calling 1-800-772-1213.

4. Protect Your Financial Security with Purple

Staying ahead of scammers requires tracking your finances and benefits carefully. Purple helps you monitor income, avoid fraud, and stay financially secure.

💜 Stay safe and in control—Get started with Purple today!