• Consumer Protection Law and Advocacy — Chicago, IL

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Has A Car Dealer Rejected You For Financing?

Has a car dealer rejected you for financing?  If so, the Equal Credit Opportunity Act requires the dealer to provide you with a written statement explaining why it rejected your credit application.  The Act’s notice requirement can be satisfied in one of two ways: A dealer can routinely provide written statements of reasons for credit…

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Mortgage Servicing Rules Updates

The Consumer Financial Protection Bureau recently announced mortgage servicing rules updates.  Read the alert at http://www.consumerfinance.gov/about-us/blog/weve-updated-our-mortgage-servicing-rules-provide-greater-protections-mortgage-borrowers-and-other-homeowners/.  Here are some of the important highlights: When a homeowner applies for a modification, deed in lieu, or other alternative to foreclosure (known as “loss mitigation”), the servicer must let the borrower know when their application is complete.  In the…

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Wrongful Repossessions - Bardo Law PC

Illinois Law Governing Repossession Agents

Illinois law requires that repossession agents be licensed and have insurance.  It also requires that agents keep track of all repossessions with recovery tickets purchased through the Illinois Commerce Commission.  As the entity charged with regulating repossession agents, the Commerce Commission’s website has helpful information for you to check out if your vehicle is repossessed…

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Tricked Into An Auto Warranty?

It’s easy to be tricked into an auto warranty.  Keep in mind that these are really not warranties but extended service contracts.  It’s often better to avoid buying extended service contracts.  In some limited instances, extended auto service contracts may be worth purchasing if: (1) You are buying a used car that is otherwise “as…

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What if I get a Citation to Discover Assets?

Bankruptcy Filings Impact Debt Collectors

Bankruptcy filings impact debt collectors.  When a consumer seeks protection under either Chapter 7 or Chapter 13 of the U.S. Bankruptcy Code, debt collectors are typically notified of the bankruptcy filing.  They should not continue to try and collect a debt while the consumer is in bankruptcy. Courts differ on whether contact with the consumer…

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