"Collections" refers to the process by which creditors try to get nonpaying debtors to pay what is owed. There are various laws in Godfrey, Illinois regulating the conduct of collections agences.
What if I Am Owed Money in Godfrey, Illinois?
If someone owes you money and declines to pay it, you have various 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 substantial, it might be worth it to hire a Godfrey, Illinois collection agency, which usually gets paid through a percentage of the debt collected. You should make sure, however, that the agency is trustworthy, and hasn't been cited for violations of consumer protection laws.
What if Someone Is Trying to Collect Money Against Me in Godfrey, Illinois?
If you truly 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.
However, you do have some options in Godfrey, 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 a Godfrey, 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 Godfrey, Illinois Collections Attorney Help?
If you believe that a creditor is violating the law in its effort to collect from you, you should get in touch with a Godfrey, Illinois attorney, since you may actually have a claim for damages against the creditor.
If you are thinking about bankruptcy, a seasoned Illinois bankrutpcy attorney can help guide you through the process.