The Economic Stimulus Act of 2008 has provided working families with a boost to help with soaring costs. The purpose is to reduce the effects of recession. The payments we received certainly are helpful. However, will we be taxed on these payments? (more…)
Credit and Debt Blog
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Posts Tagged ‘stimulus payment’
Stimulus Payments Trigger Debt Settlements
The economic stimulus payments received by households in 2008 is intended to increase consumer spending. It was designed to soften the recessionary pressures caused by the credit crunch.
Many consumers, however are using it to catch up on late bills. Debt collectors are finding that many consumers are receiving substantial stimulus payments, which could be used as a lump sum payment to settle an old debt. (more…)
