"Collections" refers to the process by which creditors try to get nonpaying debtors to pay what is owed. There are various laws in Yarmouth, Maine regulating the conduct of collections agences.
What if I Am Owed Money in Yarmouth, Maine?
If you are owed money and the debtor won't pay, for whatever reason, you are entitled to seek collection by any lawful means. Of course, the means of collection that are considered "lawful" are quite limited. You should be aware of the rules that govern collections before you proceed, as violating them can hurt your chances of collecting, and even expose you to 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.
Creditors may, however, send written demands for timely payment, along with an invoice that precisely lays out exactly what the debtor owes. If the debt is significant, it might be worth it to hire a Yarmouth, Maine collection agency, which usually gets paid through a percentage of the debt collected. You should make sure, however, that the agency is reputable, and hasn't been cited for violations of consumer protection laws.
What if Someone Is Trying to Collect Money Against Me in Yarmouth, Maine?
If you actually owe the money that is being sought, and can afford to pay it, you should do so. If the collection caller is behaving in an amicable 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.
Your best option in Yarmouth, Maine 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 usually 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 generally leaves them with no other option but to sue.
If you have hired a lawyer in Yarmouth, Maine, they might advise that you apply for bankruptcy. Of course, whether or not this is a good idea depends strongly on the facts of your particular case, so you should not do so unless an attorney has reviewed the facts and determined that bankruptcy is a viable solution.
How Can a Yarmouth, Maine 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 Yarmouth, Maine attorney, since you may actually have a claim for damages against the creditor.
Also, if you are considering bankruptcy as an option, a seasoned Maine attorney can help guide you through the process.