One of the most egregious injustices in the debt collection industry, the Illinois legal loophole that allowed delinquent borrowers to actually be thrown in jailed, has now been corrected primarily thanks to the hard work and skill of Attorney General Lisa Madigan.
This past Wednesday Illinois Governor Pat Quinn signed into law HB 5434, known as “The Debtors Rights Act of 2012,” which has among its provisions, banned the jailing of debtors who have missed a court mandated payment.
“It is outrageous to think in this day and age that creditors are manipulating the courts, even threatening jail time, to extract whatever they could from people who could least afford to pay—veterans, the unemployed, seniors who rely solely on their benefits to get by each month. This law corrects that gross oversight and puts a stop to throwing people in jail for being poor while still allowing fair debt collection when people have the means to pay their debts.”
~ Lisa Madigan, Attoney General, Illinois
Getting a law passed is never easy or a foregone conclusion, regardless of how great the need. This is why citizens of IL should recognize what Attorney General Madigan and Governor Quinn have accomplished. It is a notable achievement.
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