"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 Commerce City, Colorado governing the tactics that collection agencies can and cannot do.
What if I Am Owed Money in Commerce City, Colorado?
If somebody owes you money and is refusing to pay, you have several 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 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 Commerce City, Colorado. You should make sure that any agency you hire is reputable, and has not been cited for violations of the laws governing collections.
What if Someone Is Trying to Collect Money Against Me in Commerce City, Colorado?
If you actually 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.
Your best option in Commerce City, Colorado might be to contact the creditor directly, and try to work out some type of new repayment plan. The sooner 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 prepared 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 Commerce City, Colorado, they might advise that you file for bankruptcy. Of course, whether or not this is a good idea depends heavily on the facts of your particular case, so you should not do so until an attorney has reviewed the facts and determined that bankruptcy is a viable solution.
How Can a Commerce City, 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 Commerce City, Colorado attorney, since you might actually have a claim for damages against the creditor.
If you are thinking about bankruptcy, a good Colorado bankrutpcy attorney can help guide you through the process.