Discussing Consumer Complaints During National Consumer Protection Week

Last week was National Consumer Protection Week, a yearly coordinated campaign that seeks to encourage consumers to learn more about their rights when it comes to issues such as credit, consumer debt, banking, and identity theft. Among other tools, the campaign provides important information to Chicago residents to about repairing credit after bankruptcy, dealing with debt collectors, and knowing your rights when it comes to debt collection. The week-long campaign aims to raise awareness about issues plaguing consumers and to help debtors learn steps to help themselves.
While raising awareness is important, is it actually changing the lives of Chicago consumers for the better? During National Consumer Protection Week, an article in The Telegraph reported that Attorney General Lisa Madigan’s office released its “annual top 10 consumer complaints for 2015,” and matters concerning consumer debt ranked at the top of the list.
Education-Related Complaints and Student Debt
Consumer debt has long been a complaint of Chicago residents, and its appearance on this year’s top 10 consumer complaints list is not new. There has been a shift, however, in the type of debt and debt collection practices that Illinoisans are complaining about. According to the article, education-related complaints are new to this list, “as student borrowers grapple with mounting student loan debt, issues with loan servicers, and predatory for-profit schools.” Lisa Madigan has taken steps to combat abuse student loan debt collection practices in the past, and she recently announced another lawsuit related to a “student loan debt relief scam.”
As Madigan explains, “unfortunately, students who are saddled with crushing debt and who have been misled from achieving their goals submit regular complaints to my office.” She emphasized that “too many students are unable to build the futures they worked so hard to achieve” because of overwhelming student loan debt and disproportionate incomes. She underscored that her office takes student loan debt relief scams very seriously and that it will continue to take actions aimed at putting an end to these abusive practice.
According to the article, education-related complaints rank at seventh-highest on this year’s list—a high ranking that appears to reflect the continuing problem of insurmountable student loan debt in our country. Around 40 million Americans currently are dealing with student loan debt, and they owe a combined total of about $1.2 trillion.
Holding Student Loan Debt Relief Scammers Accountable
Madigan’s recently filed claim against the student loan debt relief scam is the eighth lawsuit her office has filed. The lawsuit alleges that National Student Loan Rescue, LLC (NSLR) violated the Consumer Fraud and Deceptive Business Practices Act and the Debt Settlement Consumer Protection Act as it charged “high upfront fees for little more than document preparation services.” Madigan’s office alleges that NSLR advertised much different services than it actually provided, including “the ability to get student loans out of default, remove wage garnishments, lower monthly payments, and secure loan forgiveness.” Madigan previously reached settlements with for-profit institutions in relation to student lending.
The Attorney General’s office is currently investigating Navient, one of the leading student loan servicers, and it is also looking into additional lawsuits against for-profit colleges that have engaged in fraudulent marketing.
Do you have questions or concerns about your rights as a consumer? An experienced consumer protection lawyer in Oak Park can answer your questions today. Contact the Emerson Law Firm for more information.

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