"Collections" refers broadly to the many tools that creditors have at their disposal to obtain payment from debtors who are not paying what they owe. There are many Perryville, 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 Perryville, Missouri?
If someone owes you money and refuses to pay it, you have several options at your disposal. However, when it comes to collecting their debts, creditors are governed by strict consumer protection rules. Violation of these rules while attempting to collect could hurt your chances at successfully recovering your money, and/or subject you to civil penalties.
As an example, when trying to collect, creditors may not use abusive language, contact third parties regarding the debt, or use violence or threats of violence.
One thing you are allowed to do is send a written demand for immediate payment. The demand should lay out the exact amount you believe is owed, so the debtor cannot plausibly claim ignorance of that fact. If a lot of money is involved, it might be prudent to hire a Perryville, Missouri collections agency. If you go this route, it is essential to make sure that you hire an agency that is reputable, and follows the relevant law to the letter.
What if Someone Is Trying to Collect Money Against Me in Perryville, Missouri?
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 a civil 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.
Fortunately, you have some options in Perryville, Missouri. First of all, you should try to contact the creditor directly, and see if something can be worked out. If this doesn't work, you can demand that the collection agency stop contacting you by phone. When this happens, they are not allowed to contact you further. This, of course, doesn't make the debt go away, but if the calls are becoming unbearable, it might buy you a little bit of time. Usually, when this happens, the creditor gives up on extra-judicial collections, and files a lawsuit against the debtor.
If you have hired a lawyer in Perryville, Missouri, they might advise that you file for bankruptcy. Of course, whether or not this is a good idea depends heavily on the facts of your particular case, so you should not do so until an attorney has reviewed the facts and determined that bankruptcy is a viable solution.
How Can a Perryville, Missouri Collections Attorney Help?
If you think that a collection agency is engaging in abusive tactics, you should call a local Perryville, Missouri attorney, as you might have a claim for damages against the creditor or the collection agency.
Also, if you are considering bankruptcy as an option, a good Missouri attorney can help guide you through the process.