"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 Thornton, Colorado governing the tactics that collection agencies can and cannot do.
What if I Am Owed Money in Thornton, 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.
You may, however, send a written demand for timely payment. The demand should lay out precisely how much the debtor allegedly owes. If there is a large amount of money involved, it might be worth it to hire a Thornton, Colorado collections agency, which will probably take its fee in the form of a percentage of the debt collected. You should do some research on various collections agencies in your area, to make sure the one you hire is trustworthy, and scrupulously follows the law.
What if Someone Is Trying to Collect Money Against Me in Thornton, Colorado?
If you truly owe the money that is being sought, and can afford to pay it, you should do so. If the collection caller is behaving in a civil manner, you should try to do the same. In any case, the worst thing you can do is ignore the issue hoping that it will go away. It won't.
Luckily, you have some options in Thornton, Colorado. First of all, you should attempt to directly contact the creditor, and see if some modified 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 typically be obliged to do so. Of course, this doesn't make the debt go away, but it might 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 retained the services of a Thornton, Colorado 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 Thornton, Colorado Collections Attorney Help?
If you believe that the collections agency is engaging in illegal or abusive activity, you should consult with a local attorney in Thornton, Colorado, as you might actually have a claim for damages against the collection agency.
If you are thinking about filing for bankruptcy, a good lawyer in Colorado can help you with that process, too.