"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 East Peoria, Illinois governing the tactics that collection agencies can and cannot do.
What if I Am Owed Money in East Peoria, 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 permitted 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 precisely 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 East Peoria, 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 East Peoria, Illinois?
Of course, if you owe money and have the ability to pay it, you should do so. If the collections caller is behaving cordially, you should do the same. In any case, it is never a good idea to ignore the issue, because that will definitely not make it go away.
However, you do have some options in East Peoria, 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 typically 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 an East Peoria, Illinois attorney, they might advise that you declare bankruptcy, depending on your specific situation. In any case, you shouldn't consider bankruptcy before weighing other options, and discussing the matter with an attorney.
How Can a East Peoria, Illinois Collections Attorney Help?
If you think that a collection agency is engaging in unlawful tactics, you should call a local East Peoria, Illinois attorney, as you might have a claim for damages against the creditor or the collection agency.
Also, if you are considering bankruptcy as an option, a good Illinois attorney can help guide you through the process.