The pandemic has been a serious blow to all our lives. Good folks are seeing their work hours reduced, their wages lowered, or facing unemployment. This causes financial stress and even emotional distress. Many family businesses have closed their doors for good.
When you struggle with bills and start missing payment — your creditors don’t care. They will use every means possible to collect from you. Creditor and collection agencies will harass you. Many people tell me that they get constant contact calls or texts. Often many times a day.
Do you live in or around Chicago, Cook, Lake, Will, DuPage, or McHenry County? Consider calling Robert J. Adams & Associates. Our lawyers will review your individual situation and explain your legal options. Call 312-804-1944.
Together we want to guide you to a better financial future.
Credit Harassment: What Are The Limits Allowed By Law?
The FDCPA sets the following limits on collection efforts:
- Calls cannot be made before 8 a.m. or after 9 p.m.
- Calls cannot be made to you at work once you inform them that your employer forbids such calls
- Efforts cannot solicit the help of friends, acquaintances, or others who are associated with you in their collection efforts
- Communications cannot harass, abuse, or threaten you, or use obscene or profane language
- Collection attempts cannot exaggerate the amount owed
- Creditors or collection agencies cannot use deceptive tactics such as claiming to be law enforcement officials or attorneys or threatening to seize and sell your property
(Source: The Fair Debt Collection Practices Act (FDCPA), which is enforced by the Federal Trade Commission (FTC), governs collection efforts and limits collectors’ and creditors’ tactics. Routine calls that do not overstep the boundaries of the FDCPA are legal.)
Automatic Stay Offered Through Bankruptcy
The Automatic Stay is like a giant STOP SIGN. Creditors stop now. Anything you do now has to go through the courts.
Should you consider or actually file for Bankruptcy? It depends on your situation – income, total debt load, living expenses. Call Robert J. Adams at 312-872-8443.
For most folks, there are two (2) forms of Bankruptcy: Chapter 13 bankruptcy or Chapter 7 bankruptcy. What is the difference?
- Chapter 13 consolidates all your debts into one pot. Only one (1) monthly payment. Chapter 13 plans stretch out to 3 to 5 years. It makes it easier to budget and manage your debts.
- Chapter 7 is often called “A FRESH START”. With a few exceptions, it gets rid of all debts, allowing you to start “fresh.” The burden of debts, collection calls and letters, and garnishments are lifted from your shoulders.
Both Chapter 7 and Chapter 13 have the Automatic Stay. It stops collection efforts immediately.
What if a creditor violates the Automatic Stay? Very few creditors violate it. And, if a creditor does the court can impose very strong sanctions against the creditor.
Why a Bankruptcy Lawyer Is Essential
Lawyers who concentrate on Bankruptcy law know and understand:
- The paperwork; the over 60 pages of forms; over 100 pages of the Bankruptcy Code (all in legalese); the exemptions allowed under Illinois law; and the nuances of the law.
- Your Bankruptcy lawyer will deal with your creditors, the bankruptcy trustee, and the Bankruptcy Court. This generally calls for knowledge and experience that the average person lacks.
- Your Bankruptcy lawyer can guide you to sure your assets are protected.
Contact Robert J. Adams and Associates Today at 312-804-1944
Do you avoid answering the phone because creditors and collection agencies are calling? Are you losing sleep because you don’t know how you’re going to catch up on missed payments?
We have offices in Chicago and Libertyville, Illinois.
Also, Robert J. Adams & Associates handles many cases over the telephone and/or by Zoom. Call 312-804-1944