Gov. J.B. Pritzker has taken some steps to guard the re payments, but more could possibly be done to block payday lenders, customer installment loan providers, and loan companies from using CARES Act funds required by families.
A pay day loan loan provider positioned at 2132 East 71st Street on Chicago’s Southern Side.
Federal stimulus re re payments have begun to exhibit up in peopleвЂ™s bank accounts, however some of these many in need of monetary support in the nationвЂ™s growing financial crisis are at risk of having it diverted to collectors.
Customer advocates are вЂњconcerned that a large number of Illinoisans could have their stimulus checks consumed by non-essential loan re payments rather than critical requirements like shelter, meals, and medication,вЂќ said Brent Adams, senior vice president of policy and interaction at Woodstock Institute. Continue reading