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

What if I Am Owed Money in Lakemoor, 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.

You may, however, send a written demand for timely payment. The demand should lay out clearly how much the debtor allegedly owes. If there is a large amount of money involved, it may be worth it to hire a Lakemoor, 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 different collections agencies in your area, to make sure the one you hire is dependable, and thoroughly follows the law.

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

If you really 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 Lakemoor, 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 authorized 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 Lakemoor, Illinois attorney, they may advise that you declare bankruptcy, depending on your individual situation. In any case, you shouldn't consider bankruptcy before weighing other options, and discussing the matter with an attorney.

How Can a Lakemoor, Illinois Collections Attorney Help?

If you believe that the collections agency is engaging in unlawful or abusive activity, you should consult with a local attorney in Lakemoor, Illinois, as you may actually have a claim for damages against the collection agency.

If you are thinking about applying for bankruptcy, a seasoned lawyer in Illinois can help you with that process, too.