Illinois

STATE INTEREST RATES AND USURY LIMITS:

• Legal Rate: 5%

• Contract Rate: 9%

• Judgment Rate: 9% (except against government entities), 6% on judgments against government entities

• Corporate Rate: No set rate

 

LEGAL AGE:

• Age of Majority: 18

• Emancipation: At least 16 years old and have been emancipated under the “Emancipation of Minors Act.” 705 Ill. Comp. Stat. 405/1-3(7)

• Contracts: A minor is bound by health care contracts by their parent, regardless of whether or not the parent is a minor. If the parent is a minor, they shall have full legal rights as if they were above the age of majority. 710 Ill. Comp. Stat. 15/7 Minor may also enter into a contract to attend an Illinois post-secondary school. 815 Ill. Comp. Stat. 155/1

 

DEBT RESPONSIBILITY: DOCTRINE OF NECESSARIES

• Both spouses are liable for the expenses of the family and education of the children and may be sued together or separately. 750 Ill. Comp. Stat. 65/15

 

STATUTE OF LIMITATIONS FOR CIVIL ACTIONS:

• Contracts: Oral, 5 years; Written except contracts for sale, 10 years; Written contracts for sale, 4 years

•Judgments: 20 years

 

FAIR PATIENT BILLING ACT:

Definitions:

• Collection Agent: referral of any bill to a collection agency or law firm to collect payment from a patient/guarantor for hospital services.

• Hospital agents must ensure that the collection agent agrees in writing to the provisions of the Fair Patient Billing Act.

• A patient is fully responsible for paying a hospital bill and must cooperate in collection efforts by providing all financial documentation and any other needed personal information within 30 days of the request for the information.

• A patient is responsible for paying the bill and will communicate to the hospital any change in financial situation that will affect the ability to pay.

 

HOURS ALLOWED TO CONTACT:

• 8 am to 9 pm

 

DEBT DISCUSSED WITH SPOUSE:

• It is illegal for a collector to disclose information relating to a patient’s financial situation. No person may make any attempt to contact a spouse by any means of communication.

 

OVERPAYMENT:

• If a patient overpays to a creditor, the money must be refunded within 60 days of the overpayment of $1 or more.

 

This information is not to be construed as legal advice. Legal advice must be tailored to the specific circumstances of each case. Although we attempt to provide up-to-date information, laws and regulations often change. We make no claims, promises, or guarantees about the accuracy or completeness of this document. For legal advice please contact an attorney. 

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