"Collections" is the process by which creditors attempt to get nonpaying debtors to pay the money they owe. There are a large number of laws in Lakewood, Colorado governing the tactics that collection agencies can and cannot do.
What if I Am Owed Money in Lakewood, Colorado?
If somebody owes you money and is refusing to pay, you have various options at your disposal. However, in doing so, you will be governed by very strict consumer protection laws that govern the collection of debts. Breaking these rules can hurt your chances at successfully collecting, and might even expose you to civil liability.
The law blocks creditors from engaging in any form of violence against the debtor in an attempt to collect. It additionally bars them from using abusive language or contacting third parties about the debt owed by the debtor.
Creditors may, however, send written demands for timely payment, along with an invoice that clearly lays out exactly what the debtor owes. If the debt is substantial, it might be worth it to hire a Lakewood, Colorado collection agency, which usually gets paid through a percentage of the debt collected. You should make sure, however, that the agency is trustworthy, and hasn't been cited for violations of consumer protection laws.
What if Someone Is Trying to Collect Money Against Me in Lakewood, Colorado?
If you truly owe the money being sought, and you are able to pay it, you should of course do so. If the collection caller is behaving civilly, you should do the same. Even if the caller doesn't behave in a civil manner, you should resist the temptation to respond in kind, and ask to speak with a supervisor, or simply end the conversation. Whatever you do, you should never ignore the issue. This will not make the problem go away.
Thankfully, you have numerous options at your disposal in Lakewood, Colorado. First, you should try to contact the creditor directly, and see if some sort of solution can be worked out. If this is unsuccessful, you can tell the collectors to stop contacting you, which may work in some instances. Of course, this doesn't make the debt go away, but it might give you a little bit of breathing room. The collectors will only be allowed to contact you to let you know that they are suing you for the money owed, or that they have stopped attempting to collect the debt.
If you have retained the services of a Lakewood, Colorado attorney, they might advise that you declare bankruptcy, depending on your specific situation. In any case, you shouldn't consider bankruptcy before weighing other options, and discussing the matter with an attorney.
How Can a Lakewood, Colorado Collections Attorney Help?
If you believe that a creditor is violating the law in its attempts to collect from you, you should get in touch with a Lakewood, Colorado attorney, since you might truly have a claim for damages against the creditor.
If you are thinking about filing for bankruptcy, a good lawyer in Colorado can help you with that process, too.