The Economic Stimulus

[HONDO74]

Quote
It is a slow day in anytown, USA, and streets are deserted. Times are tough, everybody is in debt, and everybody is living on credit.

Which brings a question to mind. With all the new collage graduates with their degrees in whatever. Will there be any jobs available for them or will they have to sit at home with mom and dad. until the world changes changes back.

[Rufus T. Firefly]

Which brings a question to mind. With all the new collage graduates with their degrees in whatever. Will there be any jobs available for them or will they have to sit at home with mom and dad. until the world changes changes back.

Who says it's going to change back to what it was? Maybe they will get jobs that let them work from their parent's basement. That's where my son is right now - sort of stuck in between since it's a little difficult to go look for a place to live right now.

[HONDO74]

IRS launches ‘Get My Payment’ tool for stimulus checks
https://www.ky3.com/content/news/IRS-la ... 55751.html

Get My Payment
https://www.irs.gov/coronavirus/get-my-payment.

I have not used it because I can wait. When and if it comes I will spend it on American made items. No Chinese made toy trains or other Chinese made crap and nothing from Amazon

[Rufus T. Firefly]

Good luck with that.....

[HONDO74]

Some Banks Keep Customers' Stimulus Checks if Accounts Are Overdrawn
https://news.yahoo.com/banks-keep-custo ... 53669.html

For some struggling Americans, the arrival of a deposit from the Treasury Department to help with basic expenses like rent and groceries during the coronavirus crisis was something to count on — until their financial institutions got in the way.

That was what happened to Benji Pedro of Columbia, South Carolina. Because his account at Safe Federal Credit Union was overdrawn by $2,650, he had planned to ask the Treasury Department to mail him a check. But before he could, the agency deposited $1,200 into the overdrawn account Wednesday, and a representative of the credit union told him that it was keeping all of it, Pedro said.

Pedro, a 24-year-old recording artist who lives with his girlfriend and their child, said his account had been overdrawn because of subscriptions to two music services that he had forgotten to cancel.

[Rufus T. Firefly]

.............. his account had been overdrawn because of subscriptions to two music services that he had forgotten to cancel.

I'm sure that was someone else's fault....

I'm also guessing that you missed seeing the thread over on OGR about using stimulus checks to buy more trains.......lasted not that long, but clearly a display of poor judgement by people that probably don't deserve or need a stimulus check.

[rogruth]

If a person has an overdrawn back account the first place a deposit goes is toward the over-draft.
If somebody doesn't know that they probably shouldn't have a bank account.

[Rufus T. Firefly]

If a person has an overdrawn back account the first place a deposit goes is toward the over-draft.
If somebody doesn't know that they probably shouldn't have a bank account.

Some folks are just about as sharp as a sack of wet mice, Roger.

[robert.]

what if? Said person with over drawn account. Had direct deposit of his pay checks. every month he gets x amount deposited into his account. he knows how much it will be there and on what date. They get furloughed. No more direct deposits. Said music company furloughs all it's customer service people. Now there is no one to talk to there. Nobody to tell "stop taking out payments". The guy calls his bank. No answer. Lines are jammed with callers and he cant get through. Same problem with online banking. He can't reach his bank to stop payments. Meanwhile his electronic payment goes through. All while he has been trying to reach somebody to say ' Please hold off for 2 months. I don't believe this to be the situation here but it could happen.

[Rufus T. Firefly]

what if? Said person with over drawn account. Had direct deposit of his pay checks. every month he gets x amount deposited into his account. he knows how much it will be there and on what date. They get furloughed. No more direct deposits. Said music company furloughs all it's customer service people. Now there is no one to talk to there. Nobody to tell "stop taking out payments". The guy calls his bank. No answer. Lines are jammed with callers and he cant get through. Same problem with online banking. He can't reach his bank to stop payments. Meanwhile his electronic payment goes through. All while he has been trying to reach somebody to say ' Please hold off for 2 months. I don't believe this to be the situation here but it could happen.

You can cancel these on line - all automatic and no humans need to be involved. Someone that could "forget" to cancel these for months and run up a an overdrawn account is pretty irresponsible.

Last time my son was here and we worked through his accounts and found any services; bang - online and cancelled.

Same story on banking - humans not needed.

In all too many cases, humans just make it harder today.

[sleepmac]

I noted that today both Oregon and New Jersey have regulations forbidding creditors from taking deposited stimulous checks, unless the account owner has a criminal judgement against them. At least that's what I read on CNN.com a moment ago.

Dan Weinhold

[Rufus T. Firefly]

I noted that today both Oregon and New Jersey have regulations forbidding creditors from taking deposited stimulous checks, unless the depositor has a criminal judgement against them. At least that's what I read on CNN.com a moment ago.

Dan Weinhold

Interesting......

[robert.]

People that have garnishment orders wont get their money.If direct deposit took place.

[Rufus T. Firefly]

People that have garnishment orders wont get their money.If direct deposit took place.

Well, one of the pre-supposed uses of the stimulus money was to pay your bills,

Someone will get the money,

[HONDO74]

People that have garnishment orders wont get their money.If direct deposit took place.

Well, one of the pre-supposed uses of the stimulus money was to pay your bills,

Someone will get the money,

Yes and they won't be buying toy trains with it....