Edelman, Combs, Latturner & Goodwin, LLC
120 South LaSalle Street, 18th Floor
Chicago, IL 60603
Debtor's Rights Attorneys
Know Your Rights
Ethical Issues Involved in Debt Buyer Suits Against Consumers - Daniel A. Edelman and James Latturner
Are You Being Sued by a Debt Buyer?
Debt buying is a fast-growing business in the U.S. Just because a debt buyer claims they are owed money from you in court or in a letter doesn't mean they are entitled to anything. Many of the debts they purchase are undocumented, not beyond the statute of limitations, or legally invalid.
If you have received notices from a debt buyer, the experienced debt collection attorneys of Edelman, Combs, Latturner & Goodwin, LLC, encourage you to fax your collection letters and other relevant documents to us at 312-419-0379 for a free initial case evaluation. You are also welcome to contact us at 1-800-644-4673 or use the Contact Us form to schedule a consultation.
If you are being dunned or sued by a debt buyer, it is important for you to understand your rights as a consumer. You may have a valid defense to the claim -- or you may have a claim against the debt buyer.
The Federal Trade Commission reported with regard to a lawsuit filed in 2004 that accounts enforced by the debt buyer may came from "consumers who never owed the original debt in the first place. Many consumers pay to get [a debt buyer] to stop threatening and harassing them, their families, their friends, and their co-workers." (http://www.ftc.gov/opa/2004/12/camco.htm)
Likewise, the Attorney General of Minnesota in 2004 sued two collection agencies that represent debt buyers. According to the Attorney General, the companies used illegal tactics such as ignoring written disputes filed by consumers to coerce those consumers into paying invalid debts.
Even if you know the debt is valid, you have the right to know that the debt buyer actually owns the debt. The debt buyer must be prepared to provide you with a copy of an assignment of the debt that specifically refers to the debtor by name, address, and account number. Also, beware: making even a small payment may revive the statute of limitations on an old debt which would otherwise be uncollectible.
Click on this link for more information on debt buying and your legal rights. Contact the debt collection attorneys of Edelman, Combs, Latturner & Goodwin, LLC, for a free initial case evaluation by calling 1-800-644-4673, by emailing us through this Web site, or by faxing us your debt collection letters at 312-419-0379.
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The consumer protection and class action lawyers of Edelman, Combs, Latturner & Goodwin, LLC, represent clients throughout Illinois, and in Federal Courts in Illinois, Wisconsin, Indiana, and Michigan, and will consider substantial cases in other jurisdictions.
