Never ignore debt collection lawsuits: Check these details

Nothing is as traumatizing as knowing that a debt collector is after you to recover the money you owe. More often than not, people in Illinois end up taking up extreme steps, failing to recognize that they have the option of seeking legal help. Top firms such as Zero Debt Law Firm offer free consultations for potential clients, and you can meet their debt defense lawyers to know the possible legal options you can take. The one thing you should never do is ignore a debt collection lawsuit. Here are some critical pointers.

Understanding the consequences

There are many consequences of not responding to a debt collection lawsuit. You may assume that ignoring the lawsuit just allowed you to get rid of the debt, but that is never the case. The creditor may approach the court and get a default judgment, which could mean that they can force you to repay the debt, and there is also an interest rate of 9% that’s applicable in Illinois. Also, they could garnish your wages until you pay the money, or worse, the debt collector may place a lien on your home or real estate properties. They can also take funds from your bank or freeze your accounts. Expectedly, any of these steps could impact your financial standing in more ways than you know.

Understanding debt collection defense

There are several ways and options to defend a debt collection lawsuit, depending on your circumstances. If you shared the name with someone else and were wrongly sued, you already have a good case. In other situations, the debt collector may have adhered to practices that are in direct violation of the Fair Debt Collection Practices Act (FDCPA). While the debt is still due, you will have the option to negotiate or discuss other aspects. There could be a case where the initial contract for the debt was not fair or illegal, and that could become your defense. The good news is lawyers know what it takes to review a case and can offer an adequate understanding of what to do next.

Final word

Don’t let a debt collection lawsuit ruin your life. If you act in time, you have the choice to defend your case and present facts that can turn things in your favor. There is no one way of doing this, but you can always seek help from an attorney with experience. Find a lawyer who specializes in the field and talk further to know more.