Debt collectors will be able to look for you on social media platforms next year
For some folks, that means dealing with calls from debt collectors. Starting late next year, collectors will also be allowed to contact consumers by email, text message, and even through social media. Debt collectors are notorious for hounding consumers over debts that have already been paid off or were never owed in the first place. For example, CR says that if a debt collector contacts you, request verification of the debt. It’s not entirely clear how collection agencies will use social media to reach consumers.
Millions of Americans could lose stimulus payments to debt collectors
The $2.2 trillion congressional coronavirus relief plan passed in March did not shield the stimulus payments from certain private debt collectors, though it specifically protected the money from being taken to cover unpaid taxes or federal student loan payments. Some states and local governments -- including Massachusetts, Ohio, Illinois and Washington, DC -- have issued their own orders to shield the stimulus payments from private debt collectors. The stimulus payments are meant to provide emergency assistance during the coronavirus outbreak. She said many Americans may not know their bank account is at risk of seizure because they have not been served properly in a collection lawsuit. The stimulus payment should be deposited in the same bank account where you received your tax refund in either 2018 or 2019.
For some, credit cards are a major part of tax season, survey finds
Tax season and credit cards seem to go hand-in-hand like peanut butter and jelly, at least if you believe the findings of a recent study conducted by Credit Card Insider. Using SurveyMonkey to conduct an online survey of 3,114 adults from Feb. 3-5, Credit Card Insider found out the following information when it comes to how important credit cards are for people during tax season. 14% of respondents who expected to owe this year planned on using a credit card to pay their taxes. Of those expecting a tax refund, 40% had credit card debt. 75% of those with debt plan to use their tax refund toward paying it off.
4 ways to get out of debt faster
SAN ANTONIO Are you are struggling with credit card debt or lines of credit? With student loans and credit card debt piling up, seeing the light at the end of the tunnel can be difficult. Here are some strategies that can make paying off debt faster and a whole lot less painful. Carrying credit card debt, personal loans, or student loans? If you struggle with more than $10,000 or even $100,000 in credit card debt or personal loans, you can get a free and no-obligation consultation with Debt Redemption.