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SCHECTER v. ASSOCIATES FINANCE, INC.

No. 84-0529.

148 Ill. App.3d 375 (1986)

499 N.E.2d 483

SHELDON J. SCHECTER et al., Plaintiffs-Appellants, v. ASSOCIATES FINANCE, INC., Defendant-Appellee (Robert Thomas & Associates et al., Defendants).

Appellate Court of Illinois — First District (5th Division).

Rehearing denied November 7, 1986.

Attorney(s) appearing for the Case

Albert Koretsky, of DiMonte & Lizak, of Chicago, for appellants.

Arvey, Hodes, Costello & Burman, of Chicago, for appellees.

Reversed and remanded.

JUSTICE PINCHAM delivered the opinion of the court:

This cause of action was filed by plaintiffs pursuant to the Federal Truth in Lending Act (15 U.S.C.A. sec. 1601 et seq. (West 1982)) (Act) to rescind a consumer credit transaction in which defendant Associates Finance, Inc. (Associates), acquired a security interest in plaintiffs' home. Plaintiffs also sought damages and attorney fees.

In March 1980, plaintiffs negotiated...

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