"Collections" refers to the process by which creditors try to get nonpaying debtors to pay what is owed. There are countless laws in Morehead, Kentucky regulating the conduct of collections agences.
What if I Am Owed Money in Morehead, Kentucky?
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.
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 authorized 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 Morehead, Kentucky collections agency. If you go this route, it is necessary to make sure that you hire an agency that is dependable, and follows the relevant law to the letter.
What if Someone Is Trying to Collect Money Against Me in Morehead, Kentucky?
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 Morehead, Kentucky. 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 Morehead, Kentucky 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 Morehead, Kentucky Collections Attorney Help?
If you believe that the collections agency is engaging in unlawful or abusive activity, you should consult with a local attorney in Morehead, Kentucky, as you may actually have a claim for damages against the collection agency.
If you are thinking about applying for bankruptcy, a seasoned lawyer in Kentucky can help you with that process, too.