"Collections" refers to the process by which creditors attempt to get nonpaying debtors to pay what is owed. There are numerous laws in Roscoe, Illinois regulating the conduct of collections agences.
What if I Am Owed Money in Roscoe, Illinois?
If someone owes you money and refuses to pay it, you have several 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.
For example, it should go without saying that creditors are not allowed to use threatened or actual violence when trying to collect. They are also not allowed to use abusive language to the debtor, or contact a third party about the debt.
Creditors may, however, send written demands for timely payment, along with an invoice that clearly lays out exactly what the debtor owes. If the debt is significant, it might be worth it to hire a Roscoe, Illinois collection agency, which usually gets paid through a percentage of the debt collected. You should make sure, however, that the agency is reputable, and hasn't been cited for violations of consumer protection laws.
What if Someone Is Trying to Collect Money Against Me in Roscoe, Illinois?
If you actually 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.
Fortunately, you have some options in Roscoe, Illinois. First of all, you should try 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 retained the services of a Roscoe, Illinois attorney, they might advise that you declare bankruptcy, depending on your particular situation. In any case, you shouldn't consider bankruptcy before weighing other options, and discussing the matter with an attorney.
How Can a Roscoe, Illinois Collections Attorney Help?
If you believe that the collections agency is engaging in illegal or abusive activity, you should consult with a local attorney in Roscoe, Illinois, as you might actually have a claim for damages against the collection agency.
If you are thinking about bankruptcy, a good Illinois bankrutpcy attorney can help guide you through the process.