"Collections" refers to the process by which creditors try to get nonpaying debtors to pay what is owed. There are countless laws in Albert Lea, Minnesota regulating the conduct of collections agences.
What if I Am Owed Money in Albert Lea, Minnesota?
If someone owes you money and won't pay, you have several legal options to seek repayment of your debt. However, you need to be careful in this area. There are many rules and regulations detailing what debt collectors can and cannot do. Violating these laws, even inadvertently, can harm your chances at collecting, and maybe even expose you to civil penalties.
Several practices that collectors cannot engage in include the use of abusive language, contacting third parties about the debt, and threatened or actual violence.
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 Albert Lea, Minnesota. 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 Albert Lea, Minnesota?
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.
Your best option in Albert Lea, Minnesota 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 an Albert Lea, Minnesota 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 Albert Lea, Minnesota 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 an Albert Lea, Minnesota attorney, since you may actually have a claim for damages against the creditor.
If you are thinking about applying for bankruptcy, a seasoned lawyer in Minnesota can help you with that process, too.