Notice to Victims of Alleged Illegal Loans made by Argon Credit
Chicago-based lender Argon Credit filed for bankruptcy in December 2016.
This office believes that Argon Credit did not comply with California licensing laws when it made some or all of the loans.
If you were a resident of California when you got the loan, there is a good chance it is not valid under California law. If the loan is not valid, then no one can successfully sue you to make the payments and it would also be illegal for someone to put that debt on your credit report. If you are a California resident who is threatened over these loans, contact the Lakeshore Law Center immediately. In addition, if you have already paid back money on the loans, then it might be possible to recover the money you paid.
The Lakeshore Law Center will consider representing you if you obtained the loan when you were a California resident. So far, we have filed 20 arbitration cases which are currently against Fund Recovery Services, LLC and First Associate Loan Servicing, Inc. These companies were involved in debiting money from borrower’s bank accounts and other collection activity. We are not making a claim against Argon Credit directly because it is in bankruptcy.
PLEASE BE ADVISED THE BANKRUPTCY COURT IN CHICAGO WHICH IS OVERSEEING THE ARGON BANKRUPTCY ISSUED THE FOLLOWING ORDER ON JANUARY 4, 2018:
Upon preliminary consideration of the Motion Of Fund Recovery Services, LLC (“FRS”) for Entry of an Order Enforcing the Automatic Stay and Imposing Sanctions Against Jeffrey Wilens, Esq., Lakeshore Law Center and Certain Lakeshore Clients (the “Motion”); capitalized terms used herein having the same meaning ascribed to them in the Motion unless otherwise indicated herein; having found that adequate and sufficient notice of the Motion and this Court’s hearing thereon has been given and that sufficient cause appears therefor; it is hereby ORDERED:
A. The automatic stay in the Debtors’ cases shall be enforced as set forth in this Order.
B. The commencement and prosecution of AAA arbitrations against FRS constitutes violations of the automatic stay applicable in the Debtors’ cases. All arbitrations commenced by Mr. Wilens and/or Lakeshore Law Center relating to consumer loans originated by the Debtors are hereby stayed immediately.
C. Responses to the Motion are due on or before January 25, 2018; replies are due on or before February 5, 2018. This matter is continued for further hearing on February 15, 2018 at 10:00 a.m.
D. Jeffrey Wilens, Esq. and Lakeshore Law Center are hereby directed to amend their website immediately to notify parties of the entry of this Order.
Based on the foregoing Order, this Office will file a motion in the Bankruptcy Court to be permitted to continue the arbitrations pertaining to the old Argon Credit loans. Meanwhile, the pending arbitrations will be put on hold. An update will be posted when there is a final determination.
If you want Lakeshore Law Center to represent you, you can apply online for that.
You can now hire Lakeshore Law Center online at this website.
If you have any questions or want to move forward with making an arbitration claim against these lenders, just contact us at the Lakeshore Law Center.