At Zero Debt Law Firm, our Naperville debt settlement litigation attorneys have the skills and experience to hold debt settlement companies legally accountable for fraud, scams, material misrepresentations, and other unfair commercial practices. If you hired a debt settlement company that failed to live up to its promises, we can help. Our firm sues debt settlement companies. Give us a call at (312) 858-3240 or connect with us directly online to arrange a confidential, no obligation initial strategy session with our Illinois debt settlement litigation lawyers.
What You Need to Know About Debt Settlement Companies
To understand debt settlement litigation, it is first important to know what a debt settlement company is and how they operate. A debt settlement company is a business that claims that they can/will settle a person’s debt for less than they owe or for more favorable repayment terms. A debt settlement company is not the same thing as a debt consolidation firm, which is a company that can combine a person’s debts into one payment. Under Illinois law, a company is deemed to be a “debt settlement provider” if:
- They offer debt settlement services in exchange for fees/compensation;
- They solicit business for another debt settlement firm; or
- They provide student loan debt relief services and charge the customer for doing so.
In theory, debt settlement services sound promising. However, the sad reality is that this is an extremely problematic industry. Debt settlement companies frequently take advantage of people who are desperate to fix their debt by making promises that are simply too good to be true. They charge very high fees over a prolonged period of time and often do little (if anything) to help people get out of debt.
Know Your Rights Under the Illinois Debt Settlement Consumer Protection Act
Debt settlement companies can be held legally liable for their misconduct through a lawsuit. You have the right to file a legal claim against a bad-acting debt settlement company that defrauded you or otherwise violated your rights. For people and families in Naperville, your right to take on a debt settlement company arises primarily from the Illinois Debt Settlement Consumer Protection Act. Here are five key things to know about this statute:
- A Debt Settlement Company’s Upfront Fees are Limited By Law: Debt settlement companies are known for charging huge upfront fees—all while enticing people with big promises. Illinois law states that these companies cannot charge any upfront fees beyond a maximum one time $50 application fee.
- You are Entitled to Cancel Debt Settlement Services and Get a Return of Funds: By law, debt settlement companies in Illinois have to let people cancel their services at any time and return their funds. If you canceled and your funds were not returned, you should speak to our Naperville lawyers. We sue debt settlement companies.
- Debt Settlement Companies Cannot Tell You to Stop Making Payments: One of the most common tactics used by unscrupulous debt settlement companies is to tell people to stop repaying their debts and to pay them instead. This is illegal in Illinois. A debt settlement company cannot lawfully advise you to stop repaying your debts.
- Debt Settlement Companies are Barred From Use False or Misleading Practices: A debt settlement company can be held liable for damages caused by material misrepresentations. Debt settlement companies in Illinois must avoid material misrepresentations and material omissions.
- Our Clients are Not Charged Fees When We Sue Debt Settlement Companies: We do not charge our clients upfront or out-of-pocket fees to sue debt settlement companies. Illinois law is clear: An attorney can obtain fees directly from the debt settlement company if they bring a successful lawsuit.
Why Rely On Zero Debt Law Firm to Sue a Debt Settlement Company in Illinois
Did you pay money to a debt collection settlement company only to find that it did not actually fix your financial problems? It is an all-too-common story. Sadly, deception, misrepresentations, and outright fraud are all very serious problems in the debt settlement company industry. At Zero Debt Law Firm, we people get justice. Our Naperville attorneys are prepared to:
- Hear your story and answer your questions about suing a debt settlement company;
- Investigate your case—gathering the evidence of misconduct by the debt settlement; and
- Prepare for a lawsuit—so that you can get justice and the compensation that you deserve.
Debt settlement companies must be held accountable when they violate Illinois law. We firmly believe that our clients need personalized legal representation from attorneys who will put true time and resources behind their lawsuit. With testimonials from clients and strong case results, you can trust our Naperville debt settlement litigators for top quality legal guidance and advice.
Contact Lawyers Who Sue Debt Settlement Companies in Naperville, Illinois
At Zero Debt Law Firm, we are devoted to protecting the rights and interests of our clients. If you were taken advantage of or mistreated by a debt settlement company, our attorneys are here to help you get justice and fair financial compensation. Contact our law firm at (312) 858-3240 to set up your strictly confidential initial strategy session. We sue debt settlement companies in Naperville, Will County, DuPage County, and throughout Northern Illinois.
(312) 858-3240 