What Is Debt Collection in Troy, Michigan?

Find the right Debt Collection attorney in Troy, MI

"Collections" refers to the process by which creditors attempt to get nonpaying debtors to pay what is owed. There are many laws in Troy, Michigan regulating the conduct of collections agences.

What if I Am Owed Money in Troy, Michigan?

If someone owes you money and won't pay, you have some legal options to seek repayment of your debt. However, you need to be careful in this area. There are many laws and regulations detailing what debt collectors can and cannot do. Breaking these laws, even inadvertently, can harm your chances at collecting, and maybe even expose you to civil penalties.

For example, when attempting to collect, creditors are not allowed to use abusive language, contact any third party about the debt, and of course they are not allowed to use threats of violence in an attempt to get their money.

You may, however, send a written demand for timely payment. The demand should lay out exactly how much the debtor allegedly owes. If there is a large amount of money involved, it might be worth it to hire a Troy, Michigan collections agency, which will probably take its fee in the form of a percentage of the debt collected. You should do some research on various collections agencies in your area, to make sure the one you hire is reputable, and scrupulously follows the law.

What if Someone Is Trying to Collect Money Against Me in Troy, Michigan?

If you actually owe the money that they are trying to collect, and are able to pay it, doing so would be your best option for ending the collections calls. Of course, this is not everybody's situation. When dealing with collectors, you should try to maintain the high ground by behaving in a calm and civil manner. In any event, you should never ignore the problem, as this usually makes things worse.

Luckily, you have some options in Troy, Michigan. First of all, you should attempt to directly contact the creditor, and see if some modified 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 usually be obliged to do so. Of course, this doesn't make the debt go away, but it might 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 a Troy, Michigan attorney during this process, they might advise that the best course of action is to file for bankruptcy. This is a major decision, however, and should not be made lightly. You should only file for bankruptcy if an attorney advises you that it is a viable viable option, given your individual circumstances.

How Can a Troy, Michigan Collections Attorney Help?

If you believe that the collections agency is engaging in illegal or abusive activity, you should consult with a local attorney in Troy, Michigan, as you might actually have a claim for damages against the collection agency.

If you are thinking about filing for bankruptcy, a good lawyer in Michigan can help you with that process, too.

Talk to a Bankruptcy & Finances Law Attorney now!

Life in Troy

Troy is a suburb of Detroit, Michigan. It is a well-recognized area for its shopping and business centers. Troy has many buildings providing office spaces, and an upscale Somerset Collection that has become a shopper's favorite.

Interestingly, Troy was ranked the fifth safest city in the nation! In 2008, CNN Money also ranked Troy twenty-second on the list of the "Best Places to Live in the United States." Criteria used by CNN Money for the list include housing, education quality, economy, and recreation. Offering so much, Troy manages to be the fourth most affordable U.S. city to live in, with an apparent median household income of ,000.

Some famous people who have called Troy home include Sutton Foster, Ellen Hollman, Martin Klebba, Steve McCatty, Ivana Milicevic, Steven Yeun, and Bridget Regan.

The Top of Troy is the city's tallest building that is home to many offices. Law firms have also found a home in The Top of Troy. These firms train attorneys to provide clients with the best possible legal services. Therefore, residents and local businesses will never have an issue solving any of their legal matters.

Overall, Troy provides residents with a wonderful quality of life!

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