Repay your Social Security Overpayment Online. Write a letter to the Social Security Administration.Tell them how much you can afford to pay each month. If we can't waive collection, we may use this form to decide how you should repay the money. Please answer the questions on this form as completely as you can. The Notice of Overpayment will tell you how much you were overpaid. It will tell you to send the money back in 30 days. To ask for reconsideration, fill out and file Form SSA-561-U2 with Social Security. Last Updated September 10, 2024. In 1888, James Bryce wrote that sunlight kills the germs of corruption that can infect a government, and his words remain true today.