Your loved ones or those entrusted to you may be receiving Social Security or veterans benefits, but it isn’t easy to be responsible for these payments and the bills that need to be paid. There are requirements and reporting as well as added family stress. Credit Advisors Foundation has been helping people manage their money for over 25 years. We are uniquely situated to properly and carefully act in this role. We take the burden and responsibility of handling federal payments.
If you think you might need representative payee services for a loved one, please call 888-503-5718 or 402-514-3350 (In NE) and ask for Darlyn, or contact her via email at reppayee@creditadvisors.org
Role of Fiduciary
Credit Advisors Foundation acts as a fiduciary to:
- Act only in the interest of the Payee
- Pay appropriate bills such as rent and utilities on time
- Manage money properly and carefully
- Keep excellent records and file necessary reports
- Avoid conflicts of interest
- Prevent exploitation
Benefits of Service
By using Credit Advisors Foundation as a Representative Payee, you are assured that appropriate record keeping and reports are maintained. Additionally, you can avoid common pitfalls of providing this service yourself.
Things to Avoid
- Violating the fiduciary requirement of keeping funds separate
- Family arguments or mistrust
- Tedious and sometimes complicated record keeping
- Having to report to other loved ones decisions they may not agree with
- Costly fines or even jail for mishandling funds
