Oak Park Real Estate & Estate Planning Blog

A recent press release from the Federal Trade Commission’s (FTC) Bureau of Consumer Protection reported that a debt collector violated federal law when they used misleading text messages to collect consumer debt.  The two debt collection agencies, National Attorney Collection Services, Inc. and National Attorney Services LLC, are based out of California.  However, Illinois residents are no strangers to large debt collection companies, such as CACH, Calvary SPC, or Midland Funding. Debt collectors must abide by the Fair Debt Collection Practices Act when they seek to recover money from consumers, and when they don’t, they can beheld liable for their actions.  In the recent FTC case, the California-based debt collector agreed to pay $1 million to settle the charges that involved violations of both the Fair Debt Collection Practices Act and the FTC Act.  If you believe you have been harassed or abused by a debt collection company, you’ll need an experienced consumer advocate on

Many Illinois residents face debt collection companies regularly, and indeed, Americans have seen a rise in the number of debt collection cases since the recession began.  Even as homeowners face difficulty finding the money to pay their mortgages and other bills, debt collectors aggressively seek payments.  The American Bar Association (ABA) released an article about harmful debt collection practices in the ABA Journal .  In the article, one consumer attorney referred to modern collection companies as “scavengers, buzzards picking at the decaying carcass of a debt.” In many cases, these collection companies harass consumers and use other deceptive or fraudulent practices .  In these situations, it is extremely important to have an experienced consumer attorney on your side. At the Emerson Law Firm , we know how difficult it can be to deal with relentless debt collection companies.  If you believe you have been the victim of an unfair collection practice, contact us today to

Consumer Finance Protection Bureau Fines Payment Processor According to an article in American Banker , the Consumer Financial Protection Bureau (CFPB) recently charged Meracord LLC, one of America’s “largest payment processors,” with a fine totaling $1.4 million.  The company received the fine after processing about $11.5 million “in illegal upfront fees from consumers on behalf of debt-relief service providers,” the article reported.  While Meracord LLC is based in Washington, there are several payment processors and debt collection companies that operate in Illinois, such as Midland Funding and Portfolio Recovery Associates.  In some cases, debt collectors and payment processors illegally solicit funds from debtors.  As the recent Meracord fine makes clear, these companies can be held accountable if they act in ways that hurt consumers. If you have been harassed by a debt collector or if you believe you have been forced to pay illegal upfront fees in order to settle

Illinois Attorney General Sues Online Retailer for Consumer Fraud Illinois residents shouldn’t have to worry about being defrauded by businesses, especially when the economy hasn’t bounced back from the last five years of job cuts and losses.  When consumer fraud does occur, a private citizen can sue a defendant under Illinois’s Consumer Fraud and Deceptive Business Practices Act .  And in some cases, when enough consumers file complaints, the government can file a lawsuit against a fraudulent business owner or company.  That’s exactly what happened when Illinois Attorney General Lisa Madigan learned that an online auto parts retailer had been engaged in serious acts of consumer fraud since 2009. Have you or a loved one been the victim of consumer fraud?  You may be able to file a claim for compensation.  It’s important to contact an experienced Illinois consumer lawyer as soon as possible.  At the Emerson Law Firm , we have been handling consumer fraud and consumer prot

Debt collectors have a bad reputation of using questionable tactics to collect debt, but now there is an increase of debt collectors trying to collect debt you may not even owe. Of course it goes without saying that these “rogue” debt collectors need to be stopped. Millions of Americans find themselves in debt, from credit cards, student loans, medical bills and more.  Not surprisingly, organized debt collection operations have grown with the rising debt.  Some of these companies are dealing with so many individual claims that they get very sloppy with their work, including going after individuals for debt that they already paid or never owed. So how do we make sure that the debt they are collecting is really yours?             According to a letter sent by Sherrod Brown, an Ohio Democrat, to Richard Cordray the director of the Consumer Financial Protection Bureau rogue debt collectors need to be reigned in with official action.  The letter explains how “15 percent of [all

Everyone knows that life after bankruptcy can be stressful, but it is important that those who are considering filing for bankruptcy realize that this is not the end of the road for them. Bankruptcy always gets a bad rap as being a financial last option, but, in reality, more people filed for bankruptcy in the past decade than ever before, and recovery is more than possible.                A helpful article from Daily Finance includes a list providing readers with the “5 Steps to Rebuilding your Credit, Finances and Emotions” after bankruptcy.  It’s worse a quick look, including these recommendations: “Let Go of the Guilt and Shame.” You are not alone! Plus feeling sorry for yourself will not make your situation any better, and can even make it worse. Rebuilding your life after bankruptcy requires work, dedication, and a positive attitude. “Reflect and Regroup.” Look back on why you ended up in the situation you were in, and write down all of those reasons. Making

Over the last few years, many cities across the United States have had to deal with smaller budgets and rising costs. Many have found ways to cut expenses, usually by passing the costs directly to its residents. Others, however, have not been so lucky. Examining the financial troubles of some cities or municipalities is a helpful reminder that money woes and potential bankruptcy are issues that affect everyone, from private cities and business even to organized governments. For example, take the city of Detroit. The Michigan city’s downfall has been highlighted over the years due to many factors, the most of important of which is its ties to the auto industry. As the auto industry has fallen and reorganized itself, with help from the government, to survive, many have wondered about the fate of Detroit. Right now, Detroit is doing its best to stave off bankruptcy, however, if its plan succeeds it will be to the detriment of many, including retired city workers. Detroit’s current plan,