Stimulus checks could possibly be purchased by loan companies unless state does more to intervene

Stimulus checks could possibly be purchased by loan companies unless state does more to intervene

Gov. J.B. Pritzker has had some actions to guard the re payments, but more could possibly be done to block lenders that are payday consumer installment loan providers, and collectors from using CARES Act funds required by families.

A cash advance loan provider situated at 2132 East 71st Street on Chicago’s Southern Side.

Federal stimulus re re payments have begun to demonstrate up in people’s bank reports, many of the many in need of assistance of monetary support into the nation’s growing crisis that is economic at risk of having it diverted to collectors.

Customer advocates are “concerned that a large number of Illinoisans has their stimulus checks consumed by non-essential loan re re re payments in place of critical requirements like shelter, meals, and medication,” said Brent Adams, senior vice president of policy and interaction at Woodstock Institute. Continue reading “Stimulus checks could possibly be purchased by loan companies unless state does more to intervene”