Surrounded by consumer advocates at Chicago Volunteer Legal Services, Governor JB Pritzker signed the bipartisan Consumer Fairness Act into law Monday, giving millions of Illinoisans relief from high interest on consumer debt. With one in three Illinois residents in the debt collection process according to the Heartland Alliance, the new law takes two steps to protect Illinois residents from crushing debt. Helping families avoid the cycle of debt that prevents them from building long-term financial security, the new law lowers post-judgment interest rates on consumer debt under $25,000 from nine percent to five percent. It also reduces the timeframe to collect on a judgment from 26 to 17 years by limiting revivals, preventing debt collectors from trapping families in debt with judgments that are decades old. HB 88 was passed unanimously without opposition from debt collectors and other financial institutions. The new law takes effect January 1, 2020.