"Collections" refers to the process by which creditors try to get nonpaying debtors to pay what is owed. There are various laws in Ottawa, Illinois regulating the conduct of collections agences.
What if I Am Owed Money in Ottawa, 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.
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 Ottawa, Illinois collections agency. If you go this route, it is crucial to make sure that you hire an agency that is dependable, and follows the relevant law to the letter.
What if Someone Is Trying to Collect Money Against Me in Ottawa, Illinois?
Of course, if you owe money and have the capacity to pay it, you should do so. If the collections caller is behaving amicably, 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 Ottawa, 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 an Ottawa, 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 Ottawa, 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 Ottawa, 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.