Anyone who is considering filing for bankruptcy has extensive experience in dealing with collection agencies. The first contact with the collection agency is usually in the form of a letter. The collection agency is legally obligated to provide the debtor with certain information, including the amount of the debt and the name of the creditor. Many people may overlook that there is a stated period of time given to the debtor to dispute the debt, usually 30 days.
The collection agency must send proof of the validity of the debt if it is disputed. It is generally recommended that people take advantage of this right, since the collection agency is not allowed to proceed further with collection efforts until they have provided this information. During the initial 30 day period, the collection agency is not allowed to make threats concerning an immediate lawsuit or destruction of the debtor’s credit rating.
There are laws prohibiting collection agencies from engaging in certain collection practices. They are not allowed to contact friends and employers, telling them that they are a collection agency trying to collect money from you. They may not call before 8:00 am or after 9:00 pm. Once the debtor hires an attorney, the collection agency is no longer allowed to contact the debtor directly unless specifically told by the debtor that they may do so.
Ledford and Wu represent clients facing Bankruptcy in Aurora and other communities in the greater Chicago area. This well-respected law firm is among the leading law firms in the region, well-experienced in assisting and advising their clients in all matters involving bankruptcy proceedings. They also handle related financial matters, including foreclosures, debt restructuring and creditor rights. The attorneys are exclusively focused on bankruptcy and consumer rights, so are extremely knowledgeable.
Sara Kay Ledford received her Juris Doctorate with honors from Indiana University School of Law. In 2003, she left private practice to become the co-founder of Ledford and Wu. Ms. Ledford and Mr. Wu are members of the National Association of Consumer Bankruptcy Attorneys. Xiaoming Wu received his J.D. from the University of Iowa College of Law. Prior to founding Ledford and Wu with Ms. Ledford, he worked as a law clerk to the Honorable Lee M. Jackwig, who serves the Southern District of Iowa as the Chief U.S. Bankruptcy Judge. He then entered in private practice before founding Ledford and Wu with Ms. Ledford.
