- Coronavirus stimulus checks are now being deposited in bank accounts across America.
- Millions of Americans will receive these payments, but there are exceptions to this rule, including private debt collection, which allows creditors to take the checks for themselves.
- The US Treasury Department has the authority to exempt the payments, but has yet to do so.
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One of the key elements of the US government’s Coronavirus Aid, Relief, and Economic Security (CARES) Act is the distribution of a $1,200 payment directly to the bank accounts of millions of Americans. If you paid your taxes this year or last, you are likely eligible, though there are exceptions to this rule, most of which we covered in a separate article. But it turns out we missed one important exception — people who have outstanding debt.
The American Prospect reports that Congress did not exempt the $1,200 coronavirus stimulus payments from private debt collection. The Treasury Department has the authority to exempt these payments, ensuring that everyone who is eligible for the $1,200 receives it, but has yet to do so, giving creditors the ability to snatch it away.
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Your coronavirus stimulus check could be swiped by debt collectors originally appeared on BGR.com on Tue, 14 Apr 2020 at 13:31:37 EDT. Please see our terms for use of feeds.
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