"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 Trinidad, Colorado governing the tactics that collection agencies can and cannot do.
What if I Am Owed Money in Trinidad, Colorado?
If somebody owes you money and is declining to pay, you have many 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 prevents creditors from engaging in any form of violence against the debtor in an attempt to collect. It further 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 clearly how much the debtor allegedly owes. If there is a large amount of money involved, it may be worth it to hire a Trinidad, 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 different collections agencies in your area, to make sure the one you hire is dependable, and meticulously follows the law.
What if Someone Is Trying to Collect Money Against Me in Trinidad, Colorado?
If you really 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 polite 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 Trinidad, 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 normally 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 retained the services of a Trinidad, Colorado attorney, they may advise that you declare bankruptcy, depending on your individual situation. In any case, you shouldn't consider bankruptcy before weighing other options, and discussing the matter with an attorney.
How Can a Trinidad, 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 Trinidad, Colorado attorney, since you might really have a claim for damages against the creditor.
Also, if you are considering bankruptcy as an option, a seasoned Colorado attorney can help guide you through the process.