"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 Westminster, Colorado governing the tactics that collection agencies can and cannot do.
What if I Am Owed Money in Westminster, 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.
You may, however, send a written demand for timely payment. The demand should lay out exactly how much the debtor allegedly owes. If there is a large amount of money involved, it may be worth it to hire a Westminster, 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 reputable, and thoroughly follows the law.
What if Someone Is Trying to Collect Money Against Me in Westminster, Colorado?
If you actually owe the money that is being sought, and can afford to pay it, you should do so. If the collection caller is behaving in an amicable 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.
Fortunately, you have some options in Westminster, Colorado. First of all, you should attempt to contact the creditor directly, and see if something can be worked out. If this doesn't work, you can demand that the collection agency stop contacting you by phone. When this happens, they are not allowed to contact you further. This, of course, doesn't make the debt go away, but if the calls are becoming unbearable, it might buy you a little bit of time. Usually, when this happens, the creditor gives up on extra-judicial collections, and files a lawsuit against the debtor.
If you have retained the services of a Westminster, Colorado attorney, they may advise that you declare bankruptcy, depending on your particular situation. In any case, you shouldn't consider bankruptcy before weighing other options, and discussing the matter with an attorney.
How Can a Westminster, Colorado Collections Attorney Help?
If you think that a collection agency is engaging in abusive tactics, you should call a local Westminster, Colorado attorney, as you might have a claim for damages against the creditor or the collection agency.
If you are thinking about applying for bankruptcy, a seasoned lawyer in Colorado can help you with that process, too.