"Collections" refers to the process by which creditors try to get nonpaying debtors to pay what is owed. There are various laws in Vine Grove, Kentucky regulating the conduct of collections agences.
What if I Am Owed Money in Vine Grove, 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.
The law prevents creditors from engaging in any form of violence against the debtor in an attempt to collect. It further 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 considerable, you might also want to hire a collection agency in Vine Grove, Kentucky. You should make sure that any agency you hire is dependable, and has not been cited for violations of the rules governing collections.
What if Someone Is Trying to Collect Money Against Me in Vine Grove, Kentucky?
Of course, if you owe money and have the capacity to pay it, you should do so. If the collections caller is behaving amicably, 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.
Your best option in Vine Grove, Kentucky might be to contact the creditor directly, and try to work out some type of new repayment plan. The earlier you do this, the more receptive to your ideas the creditor is likely to be. If this isn't successful, you can demand that the collectors stop contacting you by phone, and they will normally be obliged to do so. Of course, this doesn't make the debt go away, and you should only take this route if you are ready to defend against a lawsuit from your creditors, since demanding that they stop contacting you typically leaves them with no other option but to sue.
If you have retained a Vine Grove, Kentucky attorney during this process, they might advise that the best course of action is to apply for bankruptcy. This is a major decision, however, and should not be made easily. You should only apply for bankruptcy if an attorney advises you that it is a viable feasible option, given your individual circumstances.
How Can a Vine Grove, Kentucky 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 Vine Grove, Kentucky attorney, since you might really have a claim for damages against the creditor.
If you are thinking about bankruptcy, a seasoned Kentucky bankrutpcy attorney can help guide you through the process.