Your $1400 stimulus could be seized by debt collectors | The Wolf 93 3 iheart.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from iheart.com Daily Mail and Mail on Sunday newspapers.
Banking and Consumer Groups Urge Yellen to Close Loophole That Lets Debt Collectors Seize $1,400 Stimulus Checks
A coalition of consumer and banking groups is urging Treasury Secretary Janet Yellen to take action to close a loophole in the recently passed $1.9 trillion pandemic relief bill that allows the $1,400 direct payments to American families to be seized by debt collectors.
The economic impact payments (EIP), as the stimulus checks are formally known, were shielded from garnishment under previous COVID-19 rescue bills. But the American Rescue Plan, which President Joe Biden signed into law on March 11, does not explicitly prevent debt collectors from seizing those funds.
President Biden on Thursday signed into law a sweeping coronavirus relief package that includes $1,400 stimulus checks for many Americans but some individuals with unpaid debts could have that money seized this time around.
$1,400 stimulus checks can be seized by private collectors for unpaid debts fox6now.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fox6now.com Daily Mail and Mail on Sunday newspapers.