"Collections" is the process by which creditors attempt to get nonpaying debtors to pay the money they owe. There are a large number of laws in Creve Coeur, Illinois governing the tactics that collection agencies can and cannot do.
What if I Am Owed Money in Creve Coeur, Illinois?
If someone owes you money and won't pay, you have some legal options to seek repayment of your debt. However, you need to be careful in this area. There are many laws and regulations detailing what debt collectors can and cannot do. Breaking these laws, even inadvertently, can harm your chances at collecting, and maybe even expose you to civil penalties.
For example, it should go without saying that creditors are not allowed to use threatened or actual violence when trying to collect. They are also not authorized to use abusive language to the debtor, or contact a third party about the debt.
You may, however, send a written demand for timely payment which lays out to the debtor clearly how much is owed. If a large amount of money is owed to you, it might be a good idea to hire a collections agency in Creve Coeur, Illinois. These agencies usually take their fee in the form of a percentage of the debt collected. You need to research agencies carefully however, and make sure the one you hire does not engage in illegal practices.
What if Someone Is Trying to Collect Money Against Me in Creve Coeur, Illinois?
If you really owe the money that is being sought, and can afford to pay it, you should do so. If the collection caller is behaving in a cordial manner, you should try to do the same. In any case, the worst thing you can do is ignore the issue hoping that it will go away. It won't.
However, you do have some options in Creve Coeur, Illinois. First of all, you should make an effort to get in direct contact with the creditor, as opposed to the collection agency, and try to work something out. If this fails, you can tell the collections agency to stop calling you, and they normally are obliged to do so. Of course, this doesn't eliminate the debt, but it can buy you some time. You should know, however, that when you show that you are not interested in dealing with the creditors or collectors directly, they will usually resort to a lawsuit.
If you have retained the services of a Creve Coeur, Illinois attorney, they might advise that you declare bankruptcy, depending on your individual situation. In any case, you shouldn't consider bankruptcy before weighing other options, and discussing the matter with an attorney.
How Can a Creve Coeur, Illinois Collections Attorney Help?
If you believe that a creditor is violating the law in its attempts to collect from you, you should get in touch with a Creve Coeur, Illinois attorney, since you might actually have a claim for damages against the creditor.
If you are thinking about bankruptcy, a good Illinois bankrutpcy attorney can help guide you through the process.