Feb 23, 2019

Commercial Debt Collection in Chicago

Have you ever wondered what happens if Chicago businesses don’t make their payments? This article will describe different commercial debt collection laws and how they are practiced in Chicago.

Chicago Debt Collection Laws

Chicago has a variety of laws for the process of debt collection; the Federal Fair Debt Collection Practices Act (FDCPA), the Illinois Consumer Fraud and Deceptive Practices Act, and the Illinois Collection Agency Act. As powerful and vital the FDCPA is, it isn’t applied for commercial debt collection practices in Chicago. In all cases of commercial debt collection, it takes delicate planning and experienced people like those at Prestige Services, Inc., to be successful.

Protecting the Debtor vs. Creditor

In relation to many federal laws, Chicago has several codes and laws that protect the debtor. Commercial debt collectors are even severely limited with how they inquire debtors about the money they owe to a creditor, such as not using certain terms: reminder, renewal, invoice, bill, or statement. (

In other cases, Illinois enforces statewide debt collection laws that have lowered commercial debt judgment time frames by considerable amounts, increasing the limits on wage garnishment, and reducing the annual judgment interest rate.

For a summary of debt collection laws in Illinois:



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