Oak Brook Debt Collection Defense Attorneys

Lawyers Defending Against Debt Collection Agencies and IRS Tax Debts in Downers Grove

Debt is a reality for many American families. In moderation, debt can help people achieve their goals of homeownership, car ownership, and education. Sometimes, however, life takes an unexpected turn and it becomes difficult to manage our debts. Many people have large student loans, credit card debts, home mortgages, auto loans, and other debts, and it can become difficult to make payments if a person loses their job or experiences issues that affect the income they earn. Medical issues can make these situations even more difficult, since they can not only affect a person's ability to earn an income, but they can lead to additional debts that may seem impossible to repay.

If your family is struggling with debt, Khan Nayyar & Associates, LLC is here to help. Whether you are being hounded by collection agencies or are struggling to pay off tax debts with the IRS, we can explain your options and provide you with legal representation. We will do everything we can to help you and your family resolve these issues and become financially secure.

Responding to Debt Collection Agencies and Lawsuits

If you are behind on loan payments, you may have been contacted by debt collection agencies. This will typically happen if a debt is at least 180 days past due. After contacting you about a debt that is owed, a collection agency must send a debt validation letter that states the amount owed and the name of the creditor. You can ask for a verification letter to show that the agency is attempting to collect a debt that is legitimately owed, and a collection agency must send this letter within 30 days after receiving your request.

You may be able to negotiate with the debt collector to pay off the debt by setting up a payment plan or paying a certain amount in a lump sum. However, if you cannot repay the debt, the collection agency may file a lawsuit against you to collect the amount owed. After a lawsuit is filed, you will receive a complaint and summons from the court. It is important to file a response to this complaint and appear at any court dates, since failing to do so could result in a default judgment against you that will require you to pay the amount you owe.

There are multiple different ways to challenge a debt collection lawsuit. Debts are often sold to other creditors, and this can happen multiple times before a collection agency decides to pursue a lawsuit. You may be able to challenge a creditor's right to collect a debt from you by asking them to provide proof that you are responsible for paying a debt and that you owe a certain amount. You may also be able to have a case dismissed because a lawsuit was not filed within the statute of limitations. In Illinois, the statute of limitations is five years for open accounts such as credit cards and 10 years for written contracts such as auto loans.

If you are facing a lawsuit from a debt collector, our attorneys can help you determine the best ways to proceed. We may be able to help you negotiate a settlement that will allow you to pay off a debt by making payments you can afford. We can also help you determine whether you can take your case to court and argue to have the debt dismissed. If necessary, we can also help you understand your options for filing for bankruptcy and having some or all of your debts discharged altogether.

IRS Tax Debt Collections

If you are struggling financially, you may have been unable to pay federal taxes, and the Internal Revenue Service (IRS) may be attempting to collect the back taxes you owe. It is important to respond to any collection actions by the IRS, since failure to do so could lead to tax liens against your property, tax levies that seize your money or assets, or wage garnishment.

In some cases, you may be able to make an Offer in Compromise (OIC) to the IRS in which you will pay off some of the amount owed based on your current income, the amount you expect to earn in the future, and the value of the assets you own. You may also be able to set up an installment agreement in which you will pay off your tax debts over time.

Our lawyers can help you negotiate an agreement with the IRS that will allow you to pay off your back taxes in an affordable manner. We can also help you understand whether you may qualify for tax relief programs such as the Fresh Start Initiative or whether you can appeal a tax lien or tax levy through the Collection Appeals Program.

Contact Our Westmont Debt Defense Lawyers

If you are struggling with debt, Khan Nayyar & Associates, LLC can help you understand your legal options. We will work with you to defend against lawsuits by debt collectors, and we will help you determine the best ways to pay off any back taxes you owe to the IRS. With our help, you can return to financial stability and ensure that you will have the resources you need to support your family. Contact us today at 630-LAWYERS to set up a consultation and learn more about the services we provide.