What is a Debt Buyer?
Consumer Attorney in Chicago, IL
If you have received collection notices from a debt buyer, you may wonder, "What is a debt buyer and why are the debts purchased difficult to prove?" The short answer is that debt buyers purchase debts from other creditors and then attempt to collect on those debts.
They can be difficult to prove because the purchased debts are often undocumented or the statute of limitations on collections has expired. Just because a buyer claims that you owe them money does not mean that you necessarily do. Getting legal advice can help protect your rights.
At Atlas Consumer Law, our Chicago consumer law attorneys have extensive experience handling collection cases. We are committed to helping preserve and protect your rights as a consumer.
Contact our Illinois consumer lawyers online or call (312) 313-1613 to find out how we may be able to help you.
Protecting Your Rights When You Have Been Contacted by a Debt Buyer
You have certain rights when you have been contacted by or served with a lawsuit by a debt buyer. First of all, you have the right to know if the debt buyer actually owns the debt. You may realize that you actually are responsible for the debt in question. '
However, the buyer who is attempting to collect must be able to provide you with a copy of the assignment, complete with your name, address and the account number associated with the debt. There have been many instances of buyers attempting to collect debts that they do not in fact own.
If you have been served with a summons, you should appear in court. Failure to appear may lead the court to enter a judgment against you, clearing the way for a creditor to garnish your wages. Getting skilled legal advice from our attorneys prior to going to court, or even before paying any amount of the alleged debt, can go a long way toward protecting your rights and achieving a favorable resolution to your case.
Contact Our Illinois Purchased Debt Attorneys
There are some debt buyers that attempt to get around the protections offered by the law. If you have received a collection notice from a debt buyer, your first move should be getting help from legal counsel.
Contact our Chicago consumer lawyers online or call (312) 313-1613 to schedule an appointment to discuss your situation.