"Collections" refers to the process by which creditors try to get nonpaying debtors to pay what is owed. There are countless laws in Oswego, Illinois regulating the conduct of collections agences.
What if I Am Owed Money in Oswego, Illinois?
If someone owes you money and declines to pay it, you have several 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.
One thing you are allowed to do is send a written demand for immediate payment. The demand should lay out the precise 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 wise to hire an Oswego, Illinois collections agency. If you go this route, it is critical to make sure that you hire an agency that is reputable, and follows the relevant law to the letter.
What if Someone Is Trying to Collect Money Against Me in Oswego, Illinois?
Of course, if you owe money and have the capacity to pay it, you should do so. If the collections caller is behaving courteously, 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 Oswego, 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 allowed 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 hired a lawyer in Oswego, Illinois, they might advise that you apply for bankruptcy. Of course, whether or not this is a good idea depends strongly on the facts of your particular case, so you should not do so unless an attorney has reviewed the facts and determined that bankruptcy is a viable solution.
How Can a Oswego, Illinois Collections Attorney Help?
If you think that the collection agency is violating the law in its effort to collect, you should probably call an Oswego, Illinois attorney, since such conduct on the part of the creditor may actually give you a claim for damages against it.
If you are thinking about applying for bankruptcy, a seasoned lawyer in Illinois can help you with that process, too.