"Collections" refers to the process by which creditors attempt to get nonpaying debtors to pay what is owed. There are numerous laws in Richmond, Kentucky regulating the conduct of collections agences.
What if I Am Owed Money in Richmond, Kentucky?
If somebody owes you money and is refusing to pay, you have many options at your disposal. However, in doing so, you will be governed by very strict consumer protection laws that govern the collection of debts. Breaking these rules can hurt your chances at successfully collecting, and might even expose you to civil liability.
For example, it should go without saying that creditors are not allowed to use threatened or actual violence when trying 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 exact 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 prudent to hire a Richmond, Kentucky collections agency. If you go this route, it is essential 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 Richmond, Kentucky?
Of course, if you owe money and have the ability to pay it, you should do so. If the collections caller is behaving cordially, 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 Richmond, Kentucky. First of all, you should try 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 authorized 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 Richmond, Kentucky 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 Richmond, Kentucky 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 a Richmond, Kentucky attorney, since you might really have a claim for damages against the creditor.
Also, if you are considering bankruptcy as an option, a good Kentucky attorney can help guide you through the process.