NEW YORK, NY — (04-21-20) — As the U.S. Treasury Department continues sending out coronavirus stimulus direct deposits and paper checks to millions of Americans, some may never get those funds who need it most as debt collectors are cashing in.
Under the CARES Act, anyone with a judgment against them for any private debt could lose their stimulus to a debt collector.
If you are overdrawn in your bank account, an old medical bill, parking tickets or a civil judgement could lead to your stimulus money being seized to satisfy the debt.
CBS MoneyWatch reporter and video producer Irina Ivanova discuss the issue on CBSN.
Watch how Your Stimulus Money Could go to Debt Collectors
Article by: Paul Goldberg, Staff Writer
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