Legal Question in Credit and Debt Law in Illinois
collection criteria?
Is there any criteria for accounts being turned over for collection? For example, can a business turn over an account even though regular payments are being made (with no lapses)?
Asked on 9/10/07, 9:49 am
1 Answer from Attorneys
Thomas Moens
Moens Law Offices, Chartered
Re: collection criteria?
It depends on whether there is an agreement that payments are acceptable. Say for example that someone bounced a check to an auto mechanic for $1,000. The customer decides that they will just pay $50 per month until they pay it the full amount. Unless the mechanic agreed to this, he can sue the person or turn the debt over to a collection agency at any time.
Answered on 9/11/07, 2:20 pm
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