"Collections" refers to the process by which creditors try to get nonpaying debtors to pay what is owed. There are countless laws in Dyer, Indiana regulating the conduct of collections agences.
What if I Am Owed Money in Dyer, Indiana?
If someone owes you money and declines to pay it, you have several options at your disposal. However, when it comes to collecting their debts, creditors are governed by specific consumer protection rules. Violation of these rules while attempting to collect could hurt your chances at effectively recovering your money, and/or subject you to civil penalties.
For example, it should go without mentioning that creditors are not allowed to use threatened or actual violence when attempting to collect. They are also not allowed to use abusive language to the debtor, or contact a third party about the debt.
One thing you are allowed to do is send a written demand for immediate payment. The demand should lay out the precise amount you believe is owed, so the debtor cannot plausibly claim ignorance of that fact. If a lot of money is involved, it might be wise to hire a Dyer, Indiana collections agency. If you go this route, it is necessary to make sure that you hire an agency that is reputable, and follows the relevant law to the letter.
What if Someone Is Trying to Collect Money Against Me in Dyer, Indiana?
Of course, if you owe money and have the capacity to pay it, you should do so. If the collections caller is behaving courteously, you should do the same. In any case, it is never a good idea to ignore the issue, because that will definitely not make it go away.
Fortunately, you have some options in Dyer, Indiana. 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 hired a Dyer, Indiana attorney to help you through this process, he or she may advise that you declare bankruptcy. Once this occurs, creditors are legally barred from trying to collect against the debtor. Of course, this is a major decision, and should not be made lightly.
How Can a Dyer, Indiana 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 Dyer, Indiana attorney, since you might actually have a claim for damages against the creditor.
If you are thinking about applying for bankruptcy, a seasoned lawyer in Indiana can help you with that process, too.