Pacific Debt Relief Program

When Are Stimulus Checks Being Sent Out And How To Track Them?

Apr 15, 2020

Last Updated: March 26, 2024


Who Qualifies and How Much to Expect

The word stimulus is written on wooden blocks on a white background emphasizing Who Qualifies and How Much to Expect.

In these uncertain times, your stimulus check is more important than ever.


If you're among the millions awaiting your piece of the $2.2 trillion relief effort or if you've encountered issues along the way, this guide will provide you with the essential steps to track, report, and manage your stimulus payment effectively.


Stay informed and empowered to secure the financial support you're due.


For those who prefer direct advice, a debt specialist is ready for a free consultation.


How Much Should My Check Be?


Single tax filers with a gross adjusted income below $75,000 should expect to receive $1,200. Married/filing jointly couples making less than $150,000 should see checks of $2,400. For each qualifying child, expect an additional $500. 


If you make more than $99,000 per single filer or $198,000 per married/filing jointly, you will not receive a stimulus check.  If you have never filed taxes before, you are still eligible!


What is a Qualifying Child?


A qualifying child must be related through blood, marriage, or adoption and under the age of 17. You must have claimed them as a dependant on your tax return in 2019 or 2018. They must live with you for at least half the year and be a US citizen or national or resident alien. In addition, the dependent can not provide more than half their financial support during the year. 


When are Stimulus Checks Sent Out?


The first stimulus checks will go to people who have their financial information (checking account number) on file with the IRS. If you haven’t filed taxes before or you haven’t used direct deposit, you can sign up through this link. If you are waiting for a paper check, they may not get sent out until early May. It may take as many as 20 weeks to get all checks mailed. 


If you are at risk for garnishment because of debt owed, you may want to get a paper check and cash it. It can stop bill collectors from snatching your check. You may also want to set up a bank account at a smaller bank or credit union for your automatic deposit. 


How to Track My Stimulus Check?


Go to the IRS website page “Get My Payment” or follow this link to their website. You will be able to see which payment group you are in and have a chance to enter your bank account information for faster processing. 


What Should I Do With My Stimulus Check?


In our last blog post article, “How to Get Credit Card Debt Relief from the Coronavirus Pandemic,” we discussed not using your stimulus check to pay your bills. Instead, try to use the check for necessities so you don’t run up your credit cards. If you’d like to read a bit more about the benefits of paying off debt versus saving, check out this article


If you are in the unique situation of not needing your stimulus check, check out this article on what to do with a windfall. You may be able to jump-start an emergency savings account!


What If This Stimulus Check Doesn’t Make Any Difference?


If you are in so far over your head that the stimulus check makes no difference to your finances, you may need more help. There are credit counseling agencies and debt consolidation and debt settlement services available to help you get out of debt. The award-winning debt specialists at Pacific Debt, Inc can help you learn more about each service and help you pick the best fit for your needs.


While Pacific Debt, Inc. is a debt settlement company, we can refer you to one of our trusted partners if debt settlement is not your best option. For more information about debt settlement and debt consolidation, check out this article or call one of our debt specialists today

What If I Don't Qualify for a Stimulus Check?

If you don't meet the income eligibility requirements or have other issues that prevent you from receiving a stimulus check, you still have options for getting debt relief or assistance:

  • Government Assistance Programs - Even if you don't qualify for the stimulus check program, you may be eligible for other federal or state government assistance programs like unemployment benefits, food stamps, housing vouchers, utility bill discounts, etc. 
  • Credit Counseling - Non-profit credit counseling agencies can provide free consultations to review your budget and give advice on managing debt. They also offer low-cost debt management plans (DMPs) which can lower your interest rates and consolidate debt into one payment. 
  • Debt Settlement - This remains an option for becoming debt-free even without the stimulus check. debt settlement program settles credit card balances for less than you owe. Although fees apply, it may still be right for your situation.
  • Community Resources - Local charities, churches, and non-profits may have resources to assist with basic needs like food, utility bills, housing costs, and more while you get back on your feet financially. 

Compare All Your Debt Relief Options


Deciding between debt management, debt consolidation, debt settlement, bankruptcy, and other options can be confusing. Here is an overview of the major debt relief methods:

Debt Management Plans

  • Work with a credit counseling agency
  • Lower interest rates, consolidate debt into one payment
  • Typically takes 3-5 years to pay off
  • Negative items remain on your credit report

Debt Consolidation Loans

  • Combines debts into a new personal loan
  • Lower monthly payment possible
  • Debt still needs to be fully repaid
  • Interest rates can be high

Debt Settlement

  • Settles credit card balances for less than you owe
  • Become debt-free in 2-4 years
  • Fees based on the amount of enrolled debt
  • Some impact on credit score

Bankruptcy

  • Court-supervised process
  • Most debts eliminated
  • High legal fees
  • Significant damage to credit

Speak to one of the debt relief specialists for a free, no-obligation consultation explain your options, and recommend the approach that best fits your unique financial situation.

What Happens After Debt Settlement?

Once you've completed the debt settlement program and become debt-free, you'll have extra money each month previously used for credit card payments. You can put those funds toward other financial goals like:

  • Building an emergency fund
  • Contributing to retirement savings
  • Paying off other debts like auto loans
  • Investing for long-term growth
  • Funding a college education

Money management resources can provide strategies and tools to help make the most of your post-debt settlement finances. The future looks bright!


FAQs

  • How long will it take to get my stimulus check?

    Most checks will be sent out within 3-4 weeks from the date payments start being distributed. However, it may take up to 20 weeks for all paper checks to be mailed.

  • What if my income situation changed recently?

    The amounts of the stimulus checks are based on either your 2018 or 2019 tax returns, whichever one you filed most recently. If your income decreased significantly in 2020, you can claim additional stimulus funds as a tax credit on your 2020 return.

  • Do I have to pay taxes on my stimulus check?

    No, the stimulus payments do not count as taxable income. They will not increase your tax liability or reduce any potential refund you may receive when you file your 2020 return next year.

  • My spouse owes back child support. Can my stimulus check be garnished?

    Yes, if your spouse has been identified by the state as being delinquent on child support payments, their portion of the stimulus payment can be seized to cover some or all of the amount due. Your portion would not be taken.

  • I haven't worked recently and didn't file a tax return. Can I still get a stimulus check?

    If you're concerned about your eligibility for a stimulus check due to not filing a tax return recently, you'll be relieved to know that even non-filers who receive government benefits have a pathway to secure their stimulus payment. By submitting some basic information through the IRS portal, you can make sure you're included. Additionally, understanding the intricacies of financial documents, such as navigating IRS forms for debt cancellation, can be crucial for your financial health.

  • What happens if my stimulus check is stolen?

    Unfortunately, stimulus checks can be a target for fraud or theft. Notify your local police department as well as the Federal Trade Commission. You can also contact the IRS for assistance reporting what happened and getting the improperly redirected funds returned.

Conclusion

The government stimulus checks offer temporary financial relief during difficult economic times. However, wise money management remains critical for long-term financial health. Carefully consider how to best use your stimulus funds - whether to cover essential expenses, pay off debt, or build savings. 


And if you require additional debt relief or other assistance, reputable organizations like Pacific Debt provide services that can set you on the path to financial freedom. Empower yourself by learning more about personal finance, creating a budget, controlling spending, and pursuing smart savings and investment strategies for the future. 


Pacific Debt, Inc.


Pacific Debt Inc. is one of the leading debt settlement companies in the US and we have consistently been named one of the best for years. This year, we earned two #1 rankings for our customer service

If you’d like more information on debt settlement or have more than $10,000 in credit card debt that you can’t repay, contact Pacific Debt, Inc. We may be able to help you become debt-free in 2 to 4 years and we’ve settled over $300 million in debt for our customers since 2002.


Once you’ve completed our debt settlement program, your financial situation should start to improve. You’ll then be able to take the money you once had to pay towards your debt and be able to use it for other purposes like saving, investing, retirement, etc.


Pacific Debt, Inc is accredited with the American Fair Credit Council and is an A+ member of the Better Business Bureau. We rate very highly in Top Consumer Reviews, Top Ten Reviews, Consumers Advocate, Consumer Affairs, Trust Pilot, and US News and World Report.


Pacific Debt is currently providing debt relief coverage in the following states:


AlabamaAlaskaArizonaArkansasCaliforniaColoradoDistrict of ColumbiaFloridaIdahoIndianaKentuckyLouisianaMassachusettsMarylandMichiganMinnesotaMissouriMississippiMontanaNorth CarolinaNebraskaNew MexicoNew YorkOklahomaPennsylvaniaSouth DakotaTexasUtahVirginiaWisconsin
* Other states can be connected to one of our trusted partners


Are you ready for debt relief help now?

Get Free Consultation
A group of people are looking at a tablet using The Best Personal Finance Software for 2024
By Jason Guadayo 27 Mar, 2024
Discover how these powerful tools can help you take control of your finances, save money, and make informed decisions about your financial future.
A group of people pushing a ball of money represents the idea of Using the Debt Snowball Method
By Jason Guadayo 20 Mar, 2024
Learn the step-by-step process of the debt snowball method to melt away debt. Discover its pros, cons, and success stories to achieve financial freedom.
 A woman holding a credit card emphasizes the idea of What Happens If You Stop Paying Credit Card?
By Jason Guadayo 19 Mar, 2024
Learn the consequences of not paying credit cards and discover options for managing debt and rebuilding credit with Pacific Debt Relief's comprehensive guide.
A man covering his face with papers under a warning sign about Debt Addiction and How to Overcome It
By Jason Guadayo 07 Mar, 2024
Learn to recognize the warning signs of debt addiction and discover practical strategies for overcoming it. Our comprehensive guide provides resources, support, and expert advice to help you break free from the cycle of debt and rebuild your financial health.
A sign that says fraud alert emphasizes What To Do If You Fall Victim To Credit Card Fraud
By Jason Guadayo 28 Feb, 2024
Discovering credit card fraud is alarming, but swift action is crucial. Learn how to report and remove debt fraud.
A yellow sign that says Beware of zombie debt emphasizes What is Zombie Debt.
By Jason Guadayo 21 Feb, 2024
Learn about zombie debt and how to handle aggressive debt collectors pursuing old, legally discharged debts.
Man Raising his hands on the Beach Walkway gaining debt freedom, a Pacific Debt Relief Review
By Jason Guadayo 14 Feb, 2024
Abram was drowning in over $35K of debt for 10 exhausting years until he discovered Pacific Debt Relief. Read his inspiring story of how Pacific Debt changed his family's financial life forever.
How to file taxes as a new homeowner.
By Jason Guadayo 13 Feb, 2024
Maximize tax benefits as a new homeowner. Explore deductions and tips for itemizing, mortgage interest, property tax, and capital gains.
A city skyline with a credit score on it, emphasizing the idea of will debt would ruin my credit.
By Jason Guadayo 06 Feb, 2024
Discover how debt relief affects credit scores and explore recovery strategies in this comprehensive guide.
A judge's gavel on a chalkboard with the words student loan debt forgiveness written on it.
By Jason Guadayo 23 Jan, 2024
Uncover California's stance on taxing forgiven federal student loans. Get advice on preparing and estimating potential tax implications.
More Posts
Share by: