"Collections" refers to the process by which creditors try to get nonpaying debtors to pay what is owed. There are countless laws in Zion, Illinois regulating the conduct of collections agences.
What if I Am Owed Money in Zion, 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.
For example, it should go without mentioning that creditors are not allowed to use threatened or actual violence when attempting to collect. They are also not allowed to use abusive language to the debtor, or contact a third party about the debt.
You may, however, send a written demand for timely payment which lays out to the debtor exactly how much is owed. If a large amount of money is owed to you, it might be a good idea to hire a collections agency in Zion, Illinois. These agencies usually take their fee in the form of a percentage of the debt collected. You need to research agencies thoroughly however, and make sure the one you hire does not engage in illegal practices.
What if Someone Is Trying to Collect Money Against Me in Zion, 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.
Your best option in Zion, Illinois might be to contact the creditor directly, and try to work out some type of new repayment plan. The earlier you do this, the more receptive to your ideas the creditor is likely to be. If this isn't successful, you can demand that the collectors stop contacting you by phone, and they will usually be obliged to do so. Of course, this doesn't make the debt go away, and you should only take this route if you are ready to defend against a lawsuit from your creditors, since demanding that they stop contacting you generally leaves them with no other option but to sue.
If you have hired a lawyer in Zion, 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 Zion, Illinois Collections Attorney Help?
If you think that a collection agency is engaging in abusive tactics, you should call a local Zion, Illinois attorney, as you might have a claim for damages against the creditor or the collection agency.
Also, if you're considering applying for bankruptcy, a seasoned attorney in Illinois can tell you if this is a good option, and, if it is, help you through the process.