Pew Report: Expect Increase in Debt Collection Lawsuits, Debt Collectors Seizing Stimulus Checks

A new report published by Pew Charitable Trusts suggests that with the increase of debt collection lawsuits, “debt collectors may seize $1,200 coronavirus checks intended for household expenses.”

Before the coronavirus restrictions began, American household debt had already increased by $1.5 trillion between 2008 and 2019. As debt increased, so also did an aggressive approach made by creditors and third-party firms to use state civil courts to pursue collections through debt claims, Pew says.

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U.S. Constitution Does Not Guarantee That You Can Always Pay With Cash

In its Article I, Section 8, Clause 5, the United States Constitution provides:  “The Congress shall have Power…To coin Money, [and] regulate the Value thereof….” And since the Constitution’s drafting in the year 1787, cash has played a vital role in the nation’s economy as the generally-accepted medium of exchange. …

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