"Collections" refers broadly to the countless tools that creditors have at their disposal to acquire payment from debtors who are not paying what they owe. There are many Malden, Missouri laws and regulations concerning the conduct of collections agencies, and what they can and cannot do in order to collect.

What if I Am Owed Money in Malden, Missouri?

If someone owes you money and declines to pay it, you have many options at your disposal. However, when it comes to collecting their debts, creditors are governed by specific consumer protection rules. Violation of these rules while attempting to collect could hurt your chances at effectively recovering your money, and/or subject you to civil penalties.

As an example, when attempting to collect, creditors may not use abusive language, contact third parties regarding the debt, or use violence or threats of 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 Malden, Missouri 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 meticulously follows the law.

What if Someone Is Trying to Collect Money Against Me in Malden, Missouri?

If you really owe the money being sought, and you are able to pay it, you should of course do so. If the collection caller is behaving courteously, you should do the same. Even if the caller doesn't behave in a polite manner, you should resist the urge to respond in kind, and ask to speak with a supervisor, or simply end the conversation. Whatever you do, you should never ignore the issue. This will not make the problem go away.

Luckily, you have some options in Malden, Missouri. First of all, you should try to directly contact the creditor, and see if some revised 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 normally be obliged to do so. Of course, this doesn't make the debt go away, but it may 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 the services of a Malden, Missouri 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 Malden, Missouri 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 Malden, Missouri attorney, since you may actually have a claim for damages against the creditor.

Also, if you are considering bankruptcy as an option, a seasoned Missouri attorney can help guide you through the process.