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illinois

Debt Collection Bill Passes Both Houses in Illinois

SB1866 amends the Crime Victims Compensation Act, outlining procedures for giving notice to a vendor waiting for payment of a claim for compensation filed under the Act. It provides that a vendor who has been given notice of the claim may not engage in debt collection activities against the applicant until the Court of Claims awards compensation for the debt and the payment is processed.

Enforcement

FTC Joins NY and GA in Action Against 3 Collection Agencies

The Primary Group is alleged to have sent consumers multiple text messages, and, in most cases, failing to disclose the company as a debt collector. Per Jessica Rich, Director of the FTC’s Bureau of Consumer Protection: “[Debt collectors] can’t harass or lie to you, whether they send a text, email, or call you.” She also stated that “legitimate debt collectors know the rules.”

Credit Report

Credit Reporting Agencies Agree to Pay $6M to Resolve Complaints

The multi-state investigation was initiated in 2012. The investigation focused on consumer disputes about credit report errors, monitoring and disciplining data furnishers (providers of credit reporting information), accuracy in consumer credit reports, and the marketing of credit monitoring products to consumers who call the credit reporting agencies to dispute information on their credit report. Under the terms of the 54 page settlement agreement, the credit reporting agencies have agreed to make a number of changes to their business practices to benefit consumers.