"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 New Castle, Colorado governing the tactics that collection agencies can and cannot do.
What if I Am Owed Money in New Castle, 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 New Castle, 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 New Castle, Colorado?
If you know that you owe the money being sought of you, and have the capacity to pay it, you should do so - this is the quickest and surest way to end collections calls. Of course, this is not the case for everyone. Whatever your situation, you should always behave civilly 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.
Thankfully, you have numerous options at your disposal in New Castle, 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 hired a New Castle, Colorado lawyer to help, he or she might advise that you file for bankruptcy. If you do file for bankruptcy, creditors are immediately required to suspend all collection activities. Of course, bankruptcy is a major decision, and should not be made without the advice of an attorney.
How Can a New Castle, Colorado Collections Attorney Help?
If you think that the collection agency is violating the law in its attempts to collect, you should probably call a New Castle, Colorado attorney, since such actions on the part of the creditor might actually give you a claim for damages against it.
If you are thinking about filing for bankruptcy, a good lawyer in Colorado can help you with that process, too.