Pritzker announces protections and
guidance for Illinois residents receiving federal stimulus checks
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[June 13, 2020]
Governor Pritzker announced Tuesday he is
suspending laws that permit the service of a garnishment summons,
wage deduction summons, or a citation to discover assets as part of
consumer debt collection proceedings.
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This step protects the use of the stimulus money
for food, shelter, and transportation as it was intended. The
Illinois Department of Financial and Professional Regulation also
issued Best Practices to Illinois licensed lenders encouraging them
to work with struggling borrowers during the pandemic to extend the
time for payment, waive late charges, and defer collection measures.
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“These measures are intended to assist those impacted by this
emergency and in need of temporary financial assistance,” said
Deborah Hagan, Secretary of the Department of Financial and
Professional Regulation.
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Residents of Illinois can also take temporary
measures to protect their household income for family essentials by
considering stopping automatic loan payments and rescinding wage
assignments.
More may be learned on the IDFPR website. Illinois
borrowers considering these measures should know that they will
still owe their debt and should immediately reach out to their
creditors to discuss any hardship they are experiencing as a result
of the COVID-19 pandemic.
[Illinois Office of Communication and
Information] |