Resolvly Debt Resolution Experts Explain How $ 1,400 Stimulus Checks Could Be Seized for Unpaid Debt
Resolvly has its Unsecured Debt Elimination Experts on how the next $ 1,400 stimulus checks could be legally withheld from individuals for unpaid debts.
BOCA RATON, FLORIDA, UNITED STATES, April 2, 2021 /EINPresswire.com/ – Experts in debt resolution at Resolvly Comment on the possibility that the new $ 1,400 stimulus checks intended for people with unpaid debts could, at this time, have their stimulus checks seized. Some consumer and banking groups are fighting to change this situation.
Resolutely is based in Boca Raton and is an attorney referral service approved by the Florida Bar. The organization helps clients across America and connects those it helps with consumer protection attorneys who specialize in debt settlement. Resolvly connects consumers to the company’s network of lawyers who prioritize protection and uphold their clients’ legal rights.
The third round of direct stimulus check payments are part of the $ 1.9 trillion coronavirus relief package. This series of payments is part of a process called budget reconciliation, which means that the money is not protected from garnishment for unpaid debts.
Experts at Resolvly say that, like the two sets of checks received in recent months, the $ 1,400 stimulus checks will come with eligibility rules based on specific requirements, such as income.
Groups such as the American Bankers Association have already sent a letter of concern to leaders of the Senate and Congress asking for exemption from garnishment for direct payments. The letter said that many families in the United States are currently struggling to stay afloat financially, and families already in debt are in desperate need of the $ 1,400 stimulus check. Bank accounts can be frozen by garnishment orders, which will limit all access to funds. To refute the current circumstances, banking and consumer groups are calling on Congress to prevent deposit-taking institutions from being forced to pay creditors who seek to seize and freeze bank accounts by passing a stand-alone bill addressing of the question.
When it comes to the types of unpaid debts that may be foreclosed, there are three that qualify. According to Tax Foundation senior policy analyst Garrett Watson, these three types of unpaid debt include unpaid private debt, IRS tax debt, or other public debt. People who are subject to their stimulus checks seized for unpaid debt do not have many options for taking action against withdrawing their funds except to close their accounts. However, closed accounts mean a longer wait time with the receipt of a stimulus check. Time is running out for a change to be made, as checks for $ 1,400 are already making their way into people’s accounts, and the flood is expected soon.
Resolvly is a Florida Bar-approved attorney referral service that helps clients nationwide connect with consumer protection attorneys specializing in debt resolution. Founded in 2015, the Boca Raton-based company has become an industry leader in helping thousands of Americans find the right legal solution to reduce or eliminate their unsecured debt. Resolvly helps with credit card debt, private student loans, business debt, medical bills, and vehicle repossessions.