"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 Cortez, Colorado governing the tactics that collection agencies can and cannot do.
What if I Am Owed Money in Cortez, 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 Cortez, 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 Cortez, Colorado?
If you know that you owe the money being sought of you, and have the resources to pay it, you should do so - this is the fastest and surest way to end collections calls. Of course, this is not the case for everyone. Whatever your situation, you should always behave courteously with the collection callers, especially if they are doing the same. Whatever you do, you should not ignore the matter, because this will never make the problem go away, and will make things worse in the long run.
Luckily, you have some options in Cortez, Colorado. First of all, you should try to directly contact the creditor, and see if some revised payment plan can be worked out. If this doesn't work, you can ask the collectors to stop contacting you by phone, and they will usually be obliged to do so. Of course, this doesn't make the debt go away, but it may give you some time to collect yourself and prepare a legal defense. Once this happens, the collection agency can only contact you to inform you that it intends to sue you for the debt owed.
If you have hired a Cortez, Colorado attorney to help you through this process, he or she may advise that you declare bankruptcy. Once this occurs, creditors are legally barred from trying to collect against the debtor. Of course, this is a major decision, and should not be made lightly.
How Can a Cortez, 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 Cortez, Colorado attorney, since you might actually have a claim for damages against the creditor.
If you are thinking about applying for bankruptcy, a seasoned lawyer in Colorado can help you with that process, too.