Illinois Compiled Statutes
815 ILCS 605/5 (2026)
No credit services organization, its salespersons, agents or representatives, or any independent contractor who sells or attempts to sell the services of a credit services organization shall: (1) Charge or receive any money or other valuable consideration prior to full and complete performance of the services the credit services organization has agreed to perform for or on behalf of the buyer, unless the credit services organization has, in conformity with Section 10 of this Act, obtained a surety bond issued by a surety company licensed to do business in this State
✓ current as of May 2026
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(815 ILCS 605/5)
(from Ch. 121 1/2, par. 2105)
Sec. 5.
No credit services organization, its salespersons, agents or
representatives, or any independent contractor who sells or attempts to
sell the services of a credit services organization shall:
(1) Charge or receive any money or other valuable consideration prior to
full and complete performance of the services the credit services
organization has agreed to perform for or on behalf of the buyer, unless
the credit services organization has, in conformity with Section 10 of this
Act, obtained a surety bond issued by a surety company licensed to do
business in this State. If a credit services organization is in compliance
with this subsection the salespersons, agents, and representatives who sell
the services of such organization shall not be required to obtain the
surety bond provided for by this Act.
(2) Charge or receive any money or other valuable consideration solely
for the referral of a buyer to a retail seller who will or may extend
credit to the buyer if such extension of credit is in substantially the
same terms as those available to the general public.
(3) Make, or advise any buyer to make, any statement that is untrue or
misleading, or that should be known by the exercise of reasonable care to
be untrue or misleading, with respect to a buyer's credit reporting agency
or to any person who has extended credit to a buyer or to whom a buyer has
made application for an extension of credit.
(4) Make or use any untrue or misleading representations in the offer or
sale of the services of a credit services organization or engage, directly
or indirectly, in any act, practice or course of business intended to
defraud or deceive a buyer in connection with the office or sale of such
services; including but not limited to: the amount or type of credit a
consumer can expect to receive as a result of the performance of the
services offered; the qualifications, training or experience of its
personnel; or the amount of credit improvement the consumer can expect to
receive as a result of the services.
(Source: P.A. 85-1384.)
Notes of Decisions
Cited in 5
cases (1 in the last 5 years), 2003–2023 · leading case: Midstate Siding & Window Co. v. Rogers, 789 N.E.2d 1248 (Ill. 2003).
Midstate Siding & Window Co. v. Rogers, 789 N.E.2d 1248 (Ill. 2003). “) 815 ILCS 605/5 (West 1996). The section prohibits a credit services organization from charging a fee for referrals to a retail seller.”
Midstate Siding & Window Co. v. Rogers (Ill. 2003). “) 815 ILCS 605/5 (West 1996). The section prohibits a credit services organization from charging a fee for referrals to a retail seller.”
Solar Micronics, Inc. v. Reddy (N.D. Ill. 2023). “” 815 ILCS 605/5(1), (4). The Act defines a “buyer” as “an individual who is solicited to purchase or who purchases the services of a credit services organization.”
In re Manger, 110 A.D.3d 150 (N.Y. App. Div. 2013). “By decision dated March 25, 2011, respondent was found by the United States District Court for the Northern District of Illinois, Eastern Division, to have made false and deceptive statements in violation of the federal Credit Repair Organizations Act (15 USC § 1679b), and the…”
In re Manger, 110 A.D.3d 150 (N.Y. App. Div. 2013). “By decision dated March 25, 2011, respondent was found by the United States District Court for the Northern District of Illinois, Eastern Division, to have made false and deceptive statements in violation of the federal Credit Repair Organizations Act (15 USC § 1679b), and the…”
— 815 ILCS 605/5(1) — 1 case
Solar Micronics, Inc. v. Reddy (N.D. Ill. 2023). “” 815 ILCS 605/5(1), (4). The Act defines a “buyer” as “an individual who is solicited to purchase or who purchases the services of a credit services organization.”
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