"Collections" refers to the process by which creditors attempt to get nonpaying debtors to pay what is owed. There are many laws in Mount Zion, Illinois regulating the conduct of collections agences.
What if I Am Owed Money in Mount Zion, Illinois?
If someone owes you money and refuses to pay it, you have various 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.
One thing you are allowed to do is send a written demand for immediate payment. The demand should lay out the exact amount you believe is owed, so the debtor cannot plausibly claim ignorance of that fact. If a lot of money is involved, it might be prudent to hire a Mount Zion, Illinois collections agency. If you go this route, it is crucial to make sure that you hire an agency that is trustworthy, and follows the relevant law to the letter.
What if Someone Is Trying to Collect Money Against Me in Mount Zion, 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 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 Mount Zion, 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 typically 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 a Mount Zion, Illinois attorney during this process, they might advise that the best course of action is to file for bankruptcy. This is a major decision, however, and should not be made lightly. You should only file for bankruptcy if an attorney advises you that it is a viable possible option, given your individual circumstances.
How Can a Mount Zion, Illinois Collections Attorney Help?
If you believe that a creditor is violating the law in its attempts to collect from you, you should get in touch with a Mount Zion, Illinois attorney, since you might truly have a claim for damages against the creditor.
If you are thinking about bankruptcy, a good Illinois bankrutpcy attorney can help guide you through the process.