A.G. James Blocks Debt Collectors from Stimulus
The latest rounds of stimulus checks are being sent and deposited into Americans bank accounts, and the Attorney General is taking steps to make sure they are unfairly garnished by Debt collectors.
The global pandemic has forced businesses to close, people to lost their jobs and additional hardships and expenses.
According to a news release from the New York State Attorney Generals Office, Letitia James has taken action to protect the millions of New York State residents from seizing the much-needed emergency stimulus payments that were authorized by the American Rescue Plan Act of 2021.
These emergency stimulus payments were not designed to be targeted by debt collectors, which would allow collectors to benefit before the consumers who desperately need this income.
In the release AG James said this official guidance makes clear that banks and debt collectors cannot freeze or seize stimulus funds that are intended for New Yorkers, especially those most in need during this time.
The release also states that as of last week the US Treasury Department has sent out approximately 90 million economic impact payments from the American Rescue Plan Act, and more are arriving each day.
The ARPA authorizes stimulus payments of up to $1,400 for eligible adults and an additional $1,400 for eligible children to help offset the essential costs that include groceries, car payments, housing and other expenses.
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