"Collections" refers to the process by which creditors try to get nonpaying debtors to pay what is owed. There are various laws in Lino Lakes, Minnesota regulating the conduct of collections agences.
What if I Am Owed Money in Lino Lakes, 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.
You may, however, send a written demand for timely payment. The demand should lay out clearly how much the debtor allegedly owes. If there is a large amount of money involved, it may be worth it to hire a Lino Lakes, Minnesota collections agency, which will probably take its fee in the form of a percentage of the debt collected. You should do some research on different collections agencies in your area, to make sure the one you hire is dependable, and thoroughly follows the law.
What if Someone Is Trying to Collect Money Against Me in Lino Lakes, Minnesota?
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.
Thankfully, you have various options at your disposal in Lino Lakes, Minnesota. First, you should try to contact the creditor directly, and see if some sort of agreement can be worked out. If this is unsuccessful, you can tell the collectors to stop contacting you, which may work in some instances. Of course, this doesn't make the debt go away, but it might give you a little bit of breathing room. The collectors will only be allowed to contact you to let you know that they are suing you for the money owed, or that they have stopped trying to collect the debt.
If you have retained the services of a Lino Lakes, Minnesota attorney, they may advise that you declare bankruptcy, depending on your individual situation. In any case, you shouldn't consider bankruptcy before weighing other options, and discussing the matter with an attorney.
How Can a Lino Lakes, 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 a Lino Lakes, Minnesota attorney, since you might really 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.