Verdicts & Settlements
Defunct Debt Collection Law Firm Found Liable for Nearly $24M
A shuttered debt-collection law firm has been found liable for $23.7 million in a suit claiming it withheld money from a onetime client: an Illinois agency pursuing debtors who defaulted on student loans.
The Illinois Student Assistance Commission had claimed the firm, Friedman & Wexler, failed to turn over at least $1.6 million in commissions, the Chicago Sun-Times reports. The suit also claimed the law firm continued collecting money from debtors after its state contract had lapsed, the story says.
Friedman & Wexler shut down in July as it faced a number of suits claiming it owed money to clients.
