Known as the “Land of Lincoln,” for our 16th President, Illinois became a state in 1818. Thanks to Abraham Lincoln, Illinois played a major role in the abolishment of slavery after the Union Army’s victory in the bloody Civil War.
It’s most renown city, Chicago, on the shores of the expansive Lake Michigan, saw a major boom after the war and became a beacon to the mafia underworld during Prohibition in the 1920s. Whereas the underworld provided some necessary debt relief during the time of the Great Depression, Illinois wouldn’t see legitimate change for many years.
Beyond bootlegging, Illinois has seen legitimate industry boom and is home base to companies like Kraft/Heinz, Allstate and Walgreens. The state’s biggest industries include education, agriculture and energy. Some of the state’s most profitable cities include Aurora, Rockford, Joliet and Naperville.
Debt Details in Illinois
Illinois dubiously boasts one of the highest credit card debt listings in the U.S. In the “Prairie State” the average credit card balance is $6,410. Illinois ranks 14th in the country for high credit card debt and it’s no coincidence that a state long associated with corruption is so severely in debt. Illinois ranks 5th overall in the nation for debt is second only to New Jersey in overall debt that includes unseemingly high medical debt and pension debt. In addition, Illinois residents hold a whopping $56.5 billion in student loan debt.
Illinois Debt Fast Facts
- Population: 12.8 million
- Median Household Income: $65,030
- Average Credit Score: 683 (national average is 669)
- Average Credit Card Debt: $6,410
- State Debt Total: $61.8 billion
Debt Resolution Laws To Help Illinois’ Residents
Disclaimer: The information shared herein is intended to be a free resource for Illinois consumers looking to dismiss debt and does not constitute legal advice.
Whether battling credit card debt, medical debt or private student loan debt, Illinois has long been known for passing laws that aggressively protect its citizens and seek to dismiss debt.
If you are embroiled in a deepening debt situation in Illinois, Resolvly can help find an expert team of seasoned debt resolution lawyers to help eliminate debt or at least dismiss debt as soon as possible.
The Fair Debt Collection Practices Act
There are many ways to get out of debt and fight harassing debt collectors and avoid or defend a debt lawsuit. In one case, every consumer has specific rights invoking the federal laws outlined in the Fair Debt Collection Practices Act (FDCPA).
The FDCPA as it relates to Illinois residents specifies exactly what a third-party debt collection service can and cannot do. For example, a collector can only call an individual between the local hours of 8am and 9pm. In addition, collectors cannot harass individuals or threaten a citizen with bodily harm or the potential of arrest.
Illinois residents in debt also have the ability to stop collectors from repeat callings by sending a physical letter to the agency requesting a cease and desist from the pestering calls. If the FDCPA is violated, a debt dismissal company can find you debt defense attorneys who can help you get out of debt and also seek damages and attorney fees.
The Fair Credit Reporting Act
Another consumer protection law designed to assist Illinois residents from false or misleading credit information is the Fair Credit Reporting Act (FCRA). The FCRA protects the privacy and accuracy of your personal credit history. If an entity violates your rights outlined in the FCRA, there are legal actions that could not only dismiss debt, but earn monetary damages in addition to the recoupment of attorneys’ fees.
Let Resolvly Find The Right Consumer Defense Lawyer
When it comes to dealing with debt – whether medical debt or credit card debt – ignoring the problem won’t make you suddenly debt free. Utilizing the legal referral service of Resolvly, can help you hire a lawyer to get out of debt by helping you understand your specific circumstances, and clear the path to debt relief and dismissing debt.
We work with consumer protection lawyers trained in debt relief to protect your rights, fight harassing debt collectors and hopefully eliminate debt completely.
Resolvly helps you hire a lawyer to hopefully dismiss debt so that you can live debt free. Our goal is to help you attain true financial freedom and debt resolution. We offer a free consultation designed to refer you to a consumer defense attorney who will work to eliminate your debt. Simply call 844-479-3457 to speak with a debt freedom specialist who will help guide you on the path toward debt resolution so you can once again be debt free.