"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 Atlantic, Iowa governing the tactics that collection agencies can and cannot do.
What if I Am Owed Money in Atlantic, Iowa?
If someone owes you money and won't pay, you have some legal options to seek repayment of your debt. However, you need to be careful in this area. There are many laws and regulations detailing what debt collectors can and cannot do. Breaking these laws, even inadvertently, can harm your chances at collecting, and maybe even expose you to civil penalties.
As an example, when trying to collect, creditors may not use abusive language, contact third parties regarding the debt, or use violence or threats of violence.
You may, however, send a written demand for timely payment which lays out to the debtor clearly how much is owed. If a large amount of money is owed to you, it might be a good idea to hire a collections agency in Atlantic, Iowa. These agencies usually take their fee in the form of a percentage of the debt collected. You need to research agencies carefully however, and make sure the one you hire does not engage in illegal practices.
What if Someone Is Trying to Collect Money Against Me in Atlantic, Iowa?
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 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 Atlantic, Iowa. 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 normally 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 an Atlantic, Iowa attorney, they might 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 Atlantic, Iowa Collections Attorney Help?
If you believe that a creditor is violating the law in its attempts to collect from you, you should get in touch with an Atlantic, Iowa attorney, since you might really have a claim for damages against the creditor.
If you are thinking about filing for bankruptcy, a good lawyer in Iowa can help you with that process, too.