When you are already in a
financial mess and are dealing with many things at once, the last thing you
would want is a debt lawsuit. Creditors in Illinois often rely on debt
collection agencies to recover money, and these collectors don’t often adhere
to the laws or norms of the practice. When facing a debt collection lawsuit,
you need to consider all options and legal ways to navigate through the
situation. Hiring an Illinois debt collect lawyer
is one of the best steps you can consider, and here are some other critical
things worth knowing.
Do not ignore a debt collection
lawsuit
Many people assume that they can
just choose not to respond to a debt collection lawsuit, and things will be
over in no time. The truth is the debt collector, or creditor may end up
getting a default judgment, which means that the other party has already won.
With the default judgment, the debt collector can garnish your wages or freeze
your accounts. They can also place a lien on your real estate investments,
including your home. In Illinois, debt collectors can also charge an annual
interest on the judgment, and the percentage is high at 9%.
Find your defense
There are several kinds of
defenses used by lawyers for debt collection lawsuits. It largely depends on
whether you really owe the money, and if you do, you should consider repaying
the same at the earliest. In some cases, you may still have a claim against the
debt collector. For instance, if the debt collector harassed you or threatened
to harm you in any manner, you may have a valid defense. Lawyers may also check
the initial debt papers to see if the contract was valid and whether the
documents related to the debt collection lawsuit were filed in the proper
court. There could be a case of mistaken identity too, where you are being used
for a debt that you don’t own, often because you share the name.
Talk to a lawyer
Defending a debt collection
lawsuit is never easy, and there are many aspects that need attention. Having
an attorney on your side can ensure that you don’t have to deal with the debt
collector directly and all the paperwork is taken care of by an expert. Take
your time to find the right lawyer with experience in debt defense and is open
to offering a free consultation.
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