Comments: IL SB0669 | 2021-2022 | 102nd General Assembly

Bill Title: Reinserts the provisions of the introduced bill with the following changes: Provides that "debt settlement service" does not include the services of any other originator, guarantor, or servicer of federal education loans or private education loans (rather than federal education loans). Provides that "student loan borrower" includes a parent, grandparent, or other family member who has received or agreed to pay a student loan for a family member receiving the education or any co-signer who has agreed to share responsibility for repaying a student loan with the person receiving the education. Further amends the Debt Settlement Consumer Protection Act. Provides that a debt settlement provider shall not advise or represent, expressly or by implication, that consumers should stop communicating with their creditors, lenders, loan servicers, loan guarantors, or attorneys or government entities (rather than creditors). Provides that a debt settlement provider shall not advise or represent, expressly or by implication, that consumers should stop making payments to their creditors, lenders, loan servicers, loan guarantors, or attorneys or government entities (rather than creditors). Provides that a debt settlement provider shall not access or obtain a consumer's or student loan borrower's federal student aid information in violation of federal law. Effective immediately.

Spectrum: Strong Partisan Bill (Democrat 36-2)

Status: (Enrolled) 2021-06-25 - Sent to the Governor [SB0669 Detail]

Text: Latest bill text (Enrolled) [HTML]

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