United States Seventh Circuit

Illinois law does not prohibit an assignee of a debt to charge the same interest rate that the assignor or original creditor charged the debtor, rather than the lower, statutory rate, even if the assignee does not have a license that expressly permits the charging of a higher rate.

Appellate Information

• Decided 12/09/2005
• Published 12/09/2005

Judges

• POSNER, Circuit Judge., Before POSNER, ROVNER, and WILLIAMS, Circuit Judges.

Court

• United States Seventh Circuit

Counsel

• For Appellant:
  
• Daniel A. Edelman (argued), John D. Blythin, Edelman, Combs & Latturner, Chicago, IL, for Plaintiffs-Appellants.


• For Appellees:
  
• Christine Olson McTigue, David M. Schultz (argued), Hinshaw & Culbertson, Chicago, IL, for Defendants-Appellees.