Publications

Illinois Bar Journal
Articles on Debtors and Creditors

Nullity rule for unregistered collection agencies is no longer absolute November 2014 Illinois Law Update, Page 524 On September 10, 2014, the First District Appellate Court of Illinois upheld a foreclosure and sale even though the plaintiff agency was not registered under the Collection Agency Act, 225 ILCS 425/1 et seq., because the defendants failed to show the Act applied to the plaintiff.
Defending Confession Judgment Cases in Illinois By Andrew R. Schwartz October 2014 Article, Page 494 A confession of judgment lets a creditor take a judgment without notice to the debtor. Here are strategies for representing commercial debtors facing these judgments.
Luxury Tax: Collecting from High-Income Judgment Debtors By Andrew N. Plasz June 2014 Article, Page 294 The author argues that wages used for investments or to purchase luxuries should be subject to collection by a judgment creditor.
New citation procedures make enforcing debt-collection judgments easier By Adam W. Lasker October 2013 Lawpulse, Page 498 A new law reduces the role of sheriffs in collection proceedings and increases the power of courts and practitioners to enforce judgments.
Forcing Lenders to Comply with the Home Affordable Modification Program By Andrew J. Hawes June 2013 Article, Page 308 The seventh circuit rules that borrowers can sue lenders for state law breach of contract and other claims related to a trial period plan payment agreement.
Judgment and memorandum of judgment expire simultaneously May 2013 Illinois Law Update, Page 228 On February 26, 2013, the third district appellate court held that a judgment creditor must revive its judgment and file a memorandum of revived judgment within seven years from the date the original judgment was entered or previously revived.
Mortgage Fraud and E&O Insurance: Making Sure There’s Something to Sue For By Kurt B. Drain May 2013 Article, Page 250 Too often, lenders win mortgage-fraud judgments against defendants who turn out to be judgment proof. The solution? Ensure that mortgage brokers have adequate E&O coverage.
A New Law Overturns Cypress Creek By Joseph R. Fortunato April 2013 Column, Page 204 A new law puts contractors with secured liens ahead of lenders.
New supreme court rules promote foreclosure mediation By Adam W. Lasker April 2013 Lawpulse, Page 170 New consumer-friendly rules, effective May 1, are designed to make the foreclosure process more fair and reduce the backlog of cases.
Protecting Settling Plaintiffs When a Defendant Goes Bankrupt By Christopher B. Lega April 2013 Article, Page 200 Most settlement agreements ignore an important risk - that the defendant will file for bankruptcy shortly after settlement. Here's how to protect plaintiffs.
No More ‘Debtors’ Prison’: Greater Notice, Protections for Judgment Debtors By Kelly M. Greco and Stephanie R. Hammer March 2013 Article, Page 134 A recently enacted law gives debtors better notice of collection proceedings and protects their rights once they have begun.
Debtor’s life insurance policy is exempt personal property if its proceeds are directed to a trust for the benefit of a husband, wife, or dependent. PA 097-1030 January 2013 Illinois Law Update, Page 16 The Code of Civil Procedure is amended by extending a debtor's exempt personal property to include some life insurance policies, endowment policies, and annuities if the proceeds are directed into a particular kind of trust. 735 ILCS 5/12-1001.
Credit Agreements Act does not bar debtor challenge to affirmative defense October 2012 Illinois Law Update, Page 520 On July 18, 2012, the third district appellate court held that the Illinois Credit Agreements Act ("Credit Agreements Act") did not bar a debtor from contesting the accuracy of a commercial security agreement when the document was introduced by a creditor as an affirmative defense.
Credit Card Collection Suits: Life Preservers for Illinois Consumers By Edward J. Halper and Rachel L. Schaller July 2012 Article, Page 360 Recent case law, consumer protection statutes, and the hearsay rule give Illinois consumers an array of legal and procedural defenses in credit card collection suits.
Bill would require personal service for debtors By Adam W. Lasker June 2012 Lawpulse, Page 286 Pending legislation would require that debtors get personal service, not merely notice by mail, before courts begin key legal processes that could put them behind bars.
Getting Debtor Names Right Under the UCC By Michelle Nijm June 2012 Column, Page 332 It’s harder than you think, but pending legislation would ease the burden.
Are Inherited IRAs Exempt from Creditors in Bankruptcy? By Justin F. Polach December 2011 Article, Page 628 Standard IRAs are exempt in bankruptcy and thus unavailable to creditors. But what if the debtor inherited the IRA account - is it likewise exempt? A look at the evolving case law.
Creditors Are Not Freeloaders: The Common Fund Doctrine Does Not Apply to Hospital Lienholders By Robert D. Kreisman November 2011 Article, Page 568 Wendling holds that hospital lienholders are creditors, not third-party beneficiaries of the plaintiff's lawsuit, and thus not required to pay attorney fees under the common fund doctrine.
Remedies for Abusive Debt Collection: An Illinois Lawyer’s Guide By Jeremy A. Gogel July 2011 Article, Page 358 An overview of penalties available under federal and state law for abusive collection techniques.
Estop that Lawsuit: Judicial Estoppel and the Bankruptcy Debtor-Turned-Plaintiff By Christopher B. Lega May 2011 Article, Page 250 Judicial estoppel can derail a plaintiff who filed for bankruptcy but then brought a lawsuit he failed to reveal in the bankruptcy case.
Life Insurance Proceeds Are Exempt From Creditors - Or Are They? By Thomas A. Pasquesi and Thomas M. Badenhausen May 2011 Article, Page 254 The law exempts life insurance policy proceeds from the claims of a decedent-insured's creditors. But exceptions give creditors an opportunity to recover.
Confessions of an Illinois Judgment By Michael G. Cortina November 2010 Article, Page 578 As more loans go bad, banks looking to collect from defaulting borrowers are turning to judgments by confession. Here's how they work.
Tenancy by the entirety gets a boost By Helen W. Gunnarsson September 2010 Lawpulse, Page 446 Spouses no longer must choose between the protection against creditors provided by tenancy by the entirety and the estate-planning advantages of a revocable inter vivos trust.
Bankruptcy lawyers are “debt relief agencies,” high court rules By Helen W. Gunnarsson July 2010 Lawpulse, Page 342 As such, they may not advise clients to incur additional debt and must label themselves "debt relief agencies" in ads.
LLC Members by Default? By Lin Hanson June 2010 Column, Page 328 If an LLC member loses her shares, to what extent does a creditor stand in her shoes?
Collecting on a federal-court judgment By Helen W. Gunnarsson February 2010 Lawpulse, Page 66 Here's a step-by-step guide to actually getting that money you won for your client in federal court. The key: effectively using the powerful citation to discover assets.
Must landlords seeking overdue rent comply with the FDCPA? By Helen W. Gunnarsson February 2010 Lawpulse, Page 66 The third district held that landlords must comply with the Fair Debt Collection Practices Act when attempting to collect past-due rent from their renters.
Reviving Judgments in Illinois By Robert G. Markoff and Christopher J. McGeehan January 2010 Article, Page 40 A summary of how the revival process works in light of recent changes.
Directors’ Duty to Creditors By Lin Hanson March 2009 Column, Page 152 If a corporation becomes insolvent, directors and officers owe a duty to creditors.
Copy of mechanics lien complaint needs to be timely delivered December 2008 Illinois Law Update, Page 612 On October 9, 2008, the Illinois Appellate Court, First District, affirmed the judgment of the Circuit Court of Cook County dismissing Count I of the plaintiff's complaint.