"Collections" refers to the process by which creditors attempt to get nonpaying debtors to pay what is owed. There are numerous laws in North Chicago, Illinois regulating the conduct of collections agences.
What if I Am Owed Money in North Chicago, 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 North Chicago, Illinois collections agency. If you go this route, it is necessary 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 North Chicago, 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 cordial 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.
However, you do have some options in North Chicago, Illinois. First of all, you should make an effort to get in direct contact with the creditor, as opposed to the collection agency, and try to work something out. If this fails, you can tell the collections agency to stop calling you, and they typically are obliged to do so. Of course, this doesn't eliminate the debt, but it can buy you some time. You should know, however, that when you show that you are not interested in dealing with the creditors or collectors directly, they will usually resort to a lawsuit.
If you have retained a North Chicago, 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 North Chicago, Illinois Collections Attorney Help?
If you think that a collection agency is engaging in unlawful tactics, you should call a local North Chicago, Illinois attorney, as you might have a claim for damages against the creditor or the collection agency.
Also, if you're considering filing for bankruptcy, a good attorney in Illinois can tell you if this is a good option, and, if it is, help you through the process.