Repairing Filing Mistakes in Social Security
Many people start collecting Social Security benefits as early as they can and then regret their decision shortly after. They start regretting this as they learn that they had potential to grow their benefits to a larger monthly sum by waiting to file at a later date. Fortunately, if you act quick enough, you can renege and get a do over. You are allowed one withdrawal on your Social Security application, and you must pay back all benefits that you have received, and then you may reapply later with no penalty. This option is only available once for each person, there is no going back after filing the second time. For more information visit this article by Mark Henricks with The Street.
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