"Collections" refers to the process by which creditors try to get nonpaying debtors to pay what is owed. There are various laws in Genoa, Illinois regulating the conduct of collections agences.

What if I Am Owed Money in Genoa, Illinois?

If someone owes you money and declines to pay it, you have several options at your disposal. However, when it comes to collecting their debts, creditors are governed by specific consumer protection rules. Violation of these rules while attempting to collect could hurt your chances at effectively recovering your money, and/or subject you to civil penalties.

Several practices that collectors cannot engage in include the use of abusive language, contacting third parties about the debt, and threatened or actual violence.

Creditors may, however, send written demands for timely payment, along with an invoice that precisely lays out exactly what the debtor owes. If the debt is significant, it might be worth it to hire a Genoa, Illinois collection agency, which usually gets paid through a percentage of the debt collected. You should make sure, however, that the agency is reputable, and hasn't been cited for violations of consumer protection laws.

What if Someone Is Trying to Collect Money Against Me in Genoa, Illinois?

If you actually owe the money that is being sought, and can afford to pay it, you should do so. If the collection caller is behaving in an amicable 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.

Fortunately, you have some options in Genoa, Illinois. First of all, you should attempt to contact the creditor directly, and see if something can be worked out. If this doesn't work, you can demand that the collection agency stop contacting you by phone. When this happens, they are not allowed to contact you further. This, of course, doesn't make the debt go away, but if the calls are becoming unbearable, it might buy you a little bit of time. Usually, when this happens, the creditor gives up on extra-judicial collections, and files a lawsuit against the debtor.

If you have retained the services of a Genoa, Illinois attorney, they may advise that you declare bankruptcy, depending on your particular situation. In any case, you shouldn't consider bankruptcy before weighing other options, and discussing the matter with an attorney.

How Can a Genoa, Illinois Collections Attorney Help?

If you think that a collection agency is engaging in abusive tactics, you should call a local Genoa, 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.