"Collections" is the process by which creditors try to get nonpaying debtors to pay the money they owe. There are a huge number of laws in East St. Louis, Illinois governing the tactics that collection agencies can and cannot do.
What if I Am Owed Money in East St. Louis, Illinois?
If someone owes you money and won't pay, you have several legal options to seek repayment of your debt. However, you need to be careful in this area. There are many rules and regulations detailing what debt collectors can and cannot do. Violating these laws, even inadvertently, can harm your chances at collecting, and maybe even expose you to civil penalties.
For example, it should go without mentioning that creditors are not allowed to use threatened or actual violence when attempting 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 St. Louis, Illinois. These agencies usually take their fee in the form of a percentage of the debt collected. You need to research agencies thoroughly 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 St. Louis, Illinois?
Of course, if you owe money and have the capacity to pay it, you should do so. If the collections caller is behaving amicably, 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 St. Louis, 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 cease calling you, and they typically are obliged to do so. Of course, this doesn't expunge 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 St. Louis, Illinois attorney, they may 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 St. Louis, Illinois Collections Attorney Help?
If you think that a collection agency is engaging in unlawful tactics, you should call a local East St. Louis, Illinois attorney, as you might have a claim for damages against the creditor or the collection agency.
If you are thinking about applying for bankruptcy, a seasoned lawyer in Illinois can help you with that process, too.