"Collections" refers to the process by which creditors attempt to get nonpaying debtors to pay what is owed. There are numerous laws in Lyons, Illinois regulating the conduct of collections agences.
What if I Am Owed Money in Lyons, Illinois?
If someone owes you money and refuses to pay it, you have many 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 clearly how much the debtor allegedly owes. If there is a large amount of money involved, it might be worth it to hire a Lyons, 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 dependable, and carefully follows the law.
What if Someone Is Trying to Collect Money Against Me in Lyons, Illinois?
Of course, if you owe money and have the ability to pay it, you should do so. If the collections caller is behaving cordially, you should do the same. In any case, it is never a good idea to ignore the issue, because that will definitely not make it go away.
Fortunately, you have some options in Lyons, Illinois. First of all, you should try 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 Lyons, Illinois attorney, they might 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 Lyons, 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 Lyons, Illinois, as you might actually have a claim for damages against the collection agency.
If you are thinking about bankruptcy, a good Illinois bankrutpcy attorney can help guide you through the process.