Broadly, the term "Collections" refers to the practice of creditors attempting to force debtors to pay what they owe. There are numerous laws and regulations in Bristol, Rhode Island that govern collection agencies, and strictly limit the types of tactics they are permitted to engage in.
What if I Am Owed Money in Bristol, Rhode Island?
If you are owed money and the debtor refuses to pay, you have some options at your disposal. However, you must tread lightly when it comes to collecting your debts. Creditors and collectors are governed by strict consumer protection rules. Violating these rules can hurt your chances of recovering what you are owed, and even subject you to civil or criminal penalties.
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.
You may, however, send a written demand for timely payment which lays out to the debtor precisely how much is owed. If a large amount of money is owed to you, it might be a good idea to hire a collections agency in Bristol, Rhode Island. These agencies usually take their fee in the form of a percentage of the debt collected. You need to research agencies carefully however, and make sure the one you hire does not engage in illegal practices.
What if Someone Is Trying to Collect Money Against Me in Bristol, Rhode Island?
Of course, if you owe money and have the ability to pay it, you should do so. If the collections caller is behaving cordially, you should do the same. In any case, it is never a good idea to ignore the issue, because that will definitely not make it go away.
However, you do have some options in Bristol, Rhode Island. First of all, you should make an effort to get in direct contact with the creditor, as opposed to the collection agency, and try to work something out. If this fails, you can tell the collections agency to stop calling you, and they typically are obliged to do so. Of course, this doesn't eliminate the debt, but it can buy you some time. You should know, however, that when you show that you are not interested in dealing with the creditors or collectors directly, they will usually resort to a lawsuit.
If you have retained the services of a Bristol, Rhode Island 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 Bristol, Rhode Island Collections Attorney Help?
If you think that a collection agency is engaging in unlawful tactics, you should call a local Bristol, Rhode Island attorney, as you might have a claim for damages against the creditor or the collection agency.
Also, if you are considering bankruptcy as an option, a good Rhode Island attorney can help guide you through the process.