"Collections" refers to the process by which creditors try to get nonpaying debtors to pay what is owed. There are countless laws in Hoffman Estates, Illinois regulating the conduct of collections agences.
What if I Am Owed Money in Hoffman Estates, Illinois?
If someone owes you money and declines to pay it, you have many 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 considerable, it might be worth it to hire a Hoffman Estates, Illinois collection agency, which usually gets paid through a percentage of the debt collected. You should make sure, however, that the agency is dependable, and hasn't been cited for violations of consumer protection laws.
What if Someone Is Trying to Collect Money Against Me in Hoffman Estates, Illinois?
If you know that you owe the money being sought of you, and have the ability to pay it, you should do so - this is the fastest and surest way to end collections calls. Of course, this is not the case for everyone. Whatever your situation, you should always behave courteously with the collection callers, especially if they are doing the same. Whatever you do, you should not ignore the matter, because this will never make the problem go away, and will make things worse in the long run.
Your best option in Hoffman Estates, Illinois might be to contact the creditor directly, and try to work out some type of new repayment plan. The earlier you do this, the more receptive to your ideas the creditor is likely to be. If this isn't successful, you can demand that the collectors stop contacting you by phone, and they will normally be obliged to do so. Of course, this doesn't make the debt go away, and you should only take this route if you are ready to defend against a lawsuit from your creditors, since demanding that they stop contacting you typically leaves them with no other option but to sue.
If you have retained a Hoffman Estates, Illinois attorney during this process, they might advise that the best course of action is to apply for bankruptcy. This is a major decision, however, and should not be made easily. You should only apply for bankruptcy if an attorney advises you that it is a viable feasible option, given your individual circumstances.
How Can a Hoffman Estates, Illinois Collections Attorney Help?
If you think that a collection agency is engaging in illegal tactics, you should call a local Hoffman Estates, 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.