Chicago Debt Agreements Legal Advice (26 found)

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Question
Is there a statute of limitations against creditors from collecting on old debt

Posted 11 months ago in Debt / Lending Agreements Chicago, IL

Ronald Lee Burdge
Ronald Lee Burdge's answer
Contributor Level 7

Yes. There is a time limit in every state on how long any person has to...
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Question
A family member loaned me money to by a family summer home. I pay regular payments on the loan. They want no interest. Legal?

Posted 10 months ago in Debt / Lending Agreements Chicago, IL

Barry Benjamin Kreisler
Barry Benjamin Kreisler's answer
Contributor Level 5

The loan is perfectly legal. However, if audited by the Internal Revenue...
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Question
Can I get a lawyer to create a legal document that she can sign that will make her the ONLY person responsible for the debt ?

Posted 11 months ago in Debt / Lending Agreements Chicago, IL

Peter LaSorsa
Peter LaSorsa's answer
Contributor Level 6

The short answer is NO.
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Charles Shinkle Watson's answer
Contributor Level 5

Indeed the short answer IS No. But if you are not on the cards at all and the...
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Question
Personal loan to a former acquaintance.

Posted 11 months ago in Debt / Lending Agreements Chicago, IL

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Question
down payment on a car.

Posted 12 months ago in Debt / Lending Agreements Chicago, IL

User's answer
no.
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Question
Does the state of IL have a statute of limitations for creditor being able to collect on a payday loan

Posted about 1 year ago in Debt / Lending Agreements Chicago, IL

Daniel John Spilotro
Daniel John Spilotro's answer
Contributor Level 3

Your question lacks many details to fully answer it but the statute of...
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