"Collections" refers to the process by which creditors attempt to get nonpaying debtors to pay what is owed. There are many laws in La Grange, Illinois regulating the conduct of collections agences.
What if I Am Owed Money in La Grange, Illinois?
If someone owes you money and refuses to pay it, you have several options at your disposal. However, when it comes to collecting their debts, creditors are governed by strict consumer protection rules. Violation of these rules while attempting to collect could hurt your chances at successfully recovering your money, and/or subject you to civil penalties.
Some practices that collectors cannot engage in include the use of abusive language, contacting third parties about the debt, and threatened or actual violence.
You may, however, send a written demand for timely payment. The demand should lay out exactly how much the debtor allegedly owes. If there is a large amount of money involved, it might be worth it to hire a La Grange, Illinois collections agency, which will probably take its fee in the form of a percentage of the debt collected. You should do some research on various collections agencies in your area, to make sure the one you hire is reputable, and scrupulously follows the law.
What if Someone Is Trying to Collect Money Against Me in La Grange, 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 a civil 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.
Luckily, you have some options in La Grange, Illinois. First of all, you should attempt to directly contact the creditor, and see if some modified payment plan can be worked out. If this doesn't work, you can ask the collectors to stop contacting you by phone, and they will usually be obliged to do so. Of course, this doesn't make the debt go away, but it might give you some time to collect yourself and prepare a legal defense. Once this happens, the collection agency can only contact you to inform you that it intends to sue you for the debt owed.
If you have retained the services of a La Grange, Illinois attorney, they might 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 La Grange, Illinois Collections Attorney Help?
If you believe that the collections agency is engaging in illegal or abusive activity, you should consult with a local attorney in La Grange, Illinois, as you might actually have a claim for damages against the collection agency.
If you are thinking about filing for bankruptcy, a good lawyer in Illinois can help you with that process, too.