"Collections" refers to the process by which creditors try to get nonpaying debtors to pay what is owed. There are various laws in Peoria Heights, Illinois regulating the conduct of collections agences.
What if I Am Owed Money in Peoria Heights, 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 a Peoria Heights, Illinois collections agency. If you go this route, it is critical 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 Peoria Heights, Illinois?
If you know that you owe the money being sought of you, and have the ability to pay it, you should do so - this is the fastest and surest way to end collections calls. Of course, this is not the case for everyone. Whatever your situation, you should always behave amicably with the collection callers, especially if they are doing the same. Whatever you do, you should not ignore the matter, because this will never make the problem go away, and will make things worse in the long run.
Thankfully, you have various options at your disposal in Peoria Heights, Illinois. First, you should try to contact the creditor directly, and see if some sort of agreement can be worked out. If this is unsuccessful, you can tell the collectors to stop contacting you, which may work in some instances. Of course, this doesn't make the debt go away, but it might give you a little bit of breathing room. The collectors will only be allowed to contact you to let you know that they are suing you for the money owed, or that they have stopped trying to collect the debt.
If you have hired a Peoria Heights, Illinois lawyer to help, he or she may advise that you file for bankruptcy. If you do apply for bankruptcy, creditors are immediately required to suspend all collection activities. Of course, bankruptcy is a major decision, and should not be made without the advice of an attorney.
How Can a Peoria Heights, Illinois Collections Attorney Help?
If you believe that a creditor is violating the law in its effort to collect from you, you should get in touch with a Peoria Heights, Illinois attorney, since you may actually have a claim for damages against the creditor.
If you are thinking about applying for bankruptcy, a seasoned lawyer in Illinois can help you with that process, too.