Sec. 2-50. Practices concerning members of the military.
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/il/chapter-815/act-122/2-50A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 2-50. Practices concerning members of the military.
(a)A lender may not garnish the wages or salaries of a consumer who is a member of the military.
(b)In addition to any rights and obligations provided under the federal Servicemembers Civil Relief Act, a lender shall suspend and defer collection activity against a consumer who is a member of the military and who has been deployed to a combat or combat support posting for the duration of the deployment.
(c)A lender may not knowingly contact the military chain of command of a consumer who is a member of the military in an effort to collect on a payday loan.
(d)Lenders must honor the terms of any repayment plan that they have entered into with any consumer, including a repayment agreement negotiated through military counselors or third-party credit counselors.