Loans are incredibly handy to finance different goals. Like many others, you must have taken loans to buy your dream home or to finance an unexpected but fun vacation. While you may have the intention of repaying your debts in time and as per schedule, things may not go as per your plans, and you could end up in a situation where you have more financial burdens than you can handle. If you are being harassed by creditors, you should take steps to protect your rights. Working with an experienced FDCPA lawyer Chicago can help, and here’s more on what you need to know.
Understanding creditor harassment
Lenders rely on different strategies and tools for debt collection. If a debtor doesn’t keep up with the payments or owes a good amount of money, they may adhere to methods like sending friendly reminders, direct calls, and reminders for overdue payments. If nothing works out, they may send formal letters of demand. It is important to understand creditors have certain rights too. If a debtor hasn’t responded to numerous calls, emails, and letters, a creditor can choose to file a lawsuit to get back their money. However, a creditor cannot use unlawful means and ways to solicit repayment. This is the crux of creditor harassment.
How can an attorney help?
More often than not, people assume that they can manage to win their FDCPA claim without any legal counsel, only to settle for too little. Losing your FDCPA claim could be a huge financial blow, considering that you are already under financial distress. Keep in mind that debt collection agencies and creditors know everything about FDCPA, and while you could be dealing with such circumstances for the first time, this is regular business for them. Lawyers can help evaluate if you have a claim and would work on the legal strategy accordingly.
Cost of lawyering up
If you are worried that you wouldn’t be able to afford an attorney, you should know that top law firms in Chicago take FDCPA claims on a contingency fee. You don’t have to pay the lawyer until you get paid. There is no reason why you should bother about the claim, especially at a time when you should be working on your finances. You should also know about the fee-shifting provision of the FDCPA, which means you can recover the fee of your attorney along with your damages.
Call an FDCPA lawyer now.