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Chicago debt collection attorneys

Chicago Auto Lender Debt Collection Attorneys

Chicago Auto Lender Collection Attorney

Debt Collection Lawyers for Auto Lenders in Cook, Kane, DuPage, Kendall and all Surrounding Counties

Most auto dealers have in-house financing departments, or they work with outside finance companies to help consumers purchase vehicles. When an auto loan goes delinquent, the first step is to repossess the vehicle which was used as collateral for the loan. Many times, however, proceeds from the sale of the vehicle are not enough to cover the balance owed. In such cases, auto lenders need experienced legal counsel to ensure that recovery efforts are maximized.

For over 35 years, Walinski & Associates, P.C. has successfully represented auto lenders in debt collection actions throughout the Chicago area. Our attorneys have in-depth knowledge of the laws and proper procedures for vehicle recovery, as well as knowledge of the most effective and cost-efficient deficiency balance recovery strategies. Our lawyers work directly on each case, putting their extensive experience to work to give clients the personalized representation they deserve. We stay in frequent contact with our clients and provide ongoing updates, so they are always kept informed on the progress of our recovery actions.

Full-Service Debt Collection for Auto Lenders in Chicago

We work closely with auto lenders from start to finish to achieve optimal recovery results. Along the way, we ensure that all debt collection procedures are in keeping with federal, state and local laws and regulations. After the vehicle is recovered (either by voluntary return or repossession), we send the proper legal notifications to the borrower before the vehicle sale. This minimizes your exposure and vastly reduces the chances of the borrower filing a successful counter-action against your company.

Auto Loan Deficiency Judgments

After a repossessed vehicle is sold, the proceeds may not be enough to cover the balance owed. When this occurs, and the borrower refuses to pay the remaining balance, a lawsuit can be filed to obtain a deficiency judgment. After a judgment is awarded, if the borrower still refused to pay, we employ strong judgment enforcement strategies, such as wage garnishments, bank account attachments, and property liens, to recover as much of the outstanding balance as possible.

Contact a Chicago Auto Loan Collections Lawyer

Collecting on auto loans can be highly complex, with several legal steps that must be followed. At Walinski & Associates, P.C., we have helped countless auto finance companies with debt collection, and we know the exact steps that must be taken to ensure you are following the letter of the law. For a personalized consultation with one of our experienced Chicago auto lender collection lawyers, contact our office today at 312-704-0771.

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