Error While Completing Chat: Timed out after generating some tokens

Using a paid account and a token that I have just created: while using gpt-3.5-turbo-0301 or gpt-3.5-turbo to complete a Chat as can be seen here:

        response = openai.ChatCompletion.create(

openai.error.RateLimitError: The model is currently overloaded with other requests (timed out after generating some tokens) - please retry with smaller completion length or fewer completions (requested 1 prompts, 4 completions for each)

is this something temporary that will go away after a while or there is something with my account and the token I am using?