Question: Can creditors take your car or attach your checking account for payment? Answer:  Once it has a judgment, a creditor can enforce the judgment against bank accounts and cars, subject to exemptions.  Illinois has a $2450 exemption for a car.  Illinois also has a $4000 “wildcard” exemption (for any personal property not otherwise exempted)… Read More

Question:: I’m 18 and have had a bank acct for 2 years. I put my parents on the account so that they can use it too.  Yesterday, the account was frozen because of a judgment against my parents.  Is this legal?   Answer:  Under Illinois law, a bank account is prima facie the property of… Read More

Question: Can a title loan place suspend your license for non-payment of a loan?   Answer:  Absolutely not.  Your license cannot be suspended for nonpayment of an ordinary debt.   It can only be suspended if you do not pay a judgment for damages arising out of the operation of a vehicle or for vehicle-related… Read More

Q. I forgot about a debt from 10 years ago. Now they are threatening to sue me.  Can they get a judgement after 10 years?   A.     The principal  statutes of limitation in Illinois are 4 years for the sale or lease of goods (such as a car), 10 years for a contract wholly… Read More

Question: I am behind on my car payments and feel my car is about to be repossessed.  What should I do? Answer: 1         Call the creditor, explain the reasons for your financial issues, and see if something can be worked out.  Make sure it is documented. 2.    If your car is repossessed, and you have… Read More

Question: Should I have a written agreement drawn up?   I loaned a friend over 9,200 dollars over 3 months ago. I have received only one payment of 250.00 dollars. We have a verbal agreement to have the total debt repaid by next May. A:   Yes.   Agreements which are not by their terms to be… Read More

Q.  Can my employer insist on paying me by a payroll card?   A.  No.  The following is a press release that the Consumer Financial Protection Bureau recently  issued on the subject: CFPB Bulletin Warns Employers Against Exclusive Use of Payroll Cards Bulletin Highlights Federal Consumer Protections for Holders of Payroll Cards WASHINGTON, D.C. — Today… Read More

Chicago, Illinois We often have to turn away consumers who are the victims of small overcharges and fraud by various consumer businesses like cell phone providers, cable companies, credit card companies, etc., because the fine print in their contract contains an arbitration clause and/or a class action waiver.  Around the firm, we often refer to… Read More

It was great to hear that the FTC has taken action against two car dealers for deceptive advertising.  We get a steady stream of complaints from our clients about deceptive conduct by car dealers, so it is nice to see the FTC pursuing this.  The attached article gives some up front advice from the FTC about… Read More

Question:  A debt collector got my new cell phone number.  I get recorded messages several times a day.  Is there anything I can do? Answer: 1.  It is a violation of a federal law called the Telephone Consumer Protection Act to place calls to a cell phone using an automated dialer or a recorded or… Read More