Illinois Compiled Statutes
815 ILCS 505/2S (2026)
No person may report adverse information to a consumer reporting agency, provide information to a collection agency or take any collection action regarding a cosigner of an obligation unless prior thereto, such person has notified the cosigner by first class mail that the primary obligor has become delinquent or defaulted on the loan, that the cosigner is responsible for the payment of the obligation and that the cosigner must, within 15 days from the date such notice was sent, either pay the amount due under the obligation or make arrangements for payment of the obligation
✓ current as of May 2026
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(815 ILCS 505/2S)
(from Ch. 121 1/2, par. 262S)
Sec. 2S.
No person may report adverse information to a consumer
reporting agency, provide information to a collection agency or take any
collection action regarding a cosigner of an obligation unless prior
thereto, such person has notified the cosigner by first class mail that the
primary obligor has become delinquent or defaulted on the loan, that the
cosigner is responsible for the payment of the obligation and that the
cosigner must, within 15 days from the date such notice was sent, either pay
the amount due under the obligation or make arrangements for payment of the
obligation. In the event that the cosigner pays or makes arrangements to
pay the obligation, no adverse information shall be reported regarding the
cosigner.
Any person violating this Section commits an unlawful practice within the
meaning of this Act and, in addition, is liable in a civil action for
actual damages of up to $250 plus reasonable attorney's fees.
(Source: P.A. 85-1209)
Notes of Decisions
Cited in 1
case, 2002–2002 · leading case: Qualkenbush v. Harris Trust & Sav. Bank, 219 F. Supp. 2d 935 (N.D. Ill. 2002).
Qualkenbush v. Harris Trust & Sav. Bank, 219 F. Supp. 2d 935 (N.D. Ill. 2002). “815 ILCS 505/2S (Section 2S). Harris Barrington did not notify plaintiff of his daughter’s default before arranging for Harris Trust to collect the money from plaintiffs account.”
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