"Collections" refers to the process by which creditors try to get nonpaying debtors to pay what is owed. There are countless laws in Taylor Mill, Kentucky regulating the conduct of collections agences.
What if I Am Owed Money in Taylor Mill, Kentucky?
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.
What you can do, however, is send an invoice of the debt to the debtor, along with a firm (but civil) demand for timely payment. If the debt is significant, you might also want to hire a collection agency in Taylor Mill, Kentucky. You should make sure that any agency you hire is reputable, and has not been cited for violations of the rules governing collections.
What if Someone Is Trying to Collect Money Against Me in Taylor Mill, Kentucky?
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.
However, you do have some options in Taylor Mill, Kentucky. First of all, you should make an effort to get in direct contact with the creditor, as opposed to the collection agency, and try to work something out. If this fails, you can tell the collections agency to cease calling you, and they usually are obliged to do so. Of course, this doesn't expunge the debt, but it can buy you some time. You should know, however, that when you show that you are not interested in dealing with the creditors or collectors directly, they will usually resort to a lawsuit.
If you have hired a Taylor Mill, Kentucky 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 Taylor Mill, Kentucky Collections Attorney Help?
If you think that a collection agency is engaging in abusive tactics, you should call a local Taylor Mill, Kentucky 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 Kentucky can help you with that process, too.