"Collections" is the process by which creditors try to get nonpaying debtors to pay the money they owe. There are a huge number of laws in Berthoud, Colorado governing the tactics that collection agencies can and cannot do.
What if I Am Owed Money in Berthoud, Colorado?
If somebody owes you money and is declining to pay, you have several options at your disposal. However, in doing so, you will be governed by very specific consumer protection rules that govern the collection of debts. Violating these rules can hurt your chances at effectively collecting, and might even expose you to civil liability.
The law prohibits creditors from engaging in any form of violence against the debtor in an attempt to collect. It also bars them from using abusive language or contacting third parties about the debt owed by the debtor.
What you can do, however, is send an invoice of the debt to the debtor, along with a firm (but civil) demand for timely payment. If the debt is significant, you might also want to hire a collection agency in Berthoud, Colorado. You should make sure that any agency you hire is reputable, and has not been cited for violations of the rules governing collections.
What if Someone Is Trying to Collect Money Against Me in Berthoud, Colorado?
Of course, if you owe money and have the capacity to pay it, you should do so. If the collections caller is behaving courteously, 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.
Your best option in Berthoud, Colorado might be to contact the creditor directly, and try to work out some type of new repayment plan. The earlier you do this, the more receptive to your ideas the creditor is likely to be. If this isn't successful, you can demand that the collectors stop contacting you by phone, and they will usually be obliged to do so. Of course, this doesn't make the debt go away, and you should only take this route if you are ready to defend against a lawsuit from your creditors, since demanding that they stop contacting you generally leaves them with no other option but to sue.
If you have hired a lawyer in Berthoud, Colorado, they might advise that you apply for bankruptcy. Of course, whether or not this is a good idea depends strongly on the facts of your particular case, so you should not do so unless an attorney has reviewed the facts and determined that bankruptcy is a viable solution.
How Can a Berthoud, Colorado Collections Attorney Help?
If you believe that a creditor is violating the law in its effort to collect from you, you should get in touch with a Berthoud, Colorado attorney, since you may actually have a claim for damages against the creditor.
Also, if you're considering applying for bankruptcy, a seasoned attorney in Colorado can tell you if this is a good option, and, if it is, help you through the process.