"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 Pevely, 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 Pevely, Missouri?
If someone owes you money and declines to pay it, you have various 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.
One thing you are allowed to do is send a written demand for immediate payment. The demand should lay out the precise 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 wise to hire a Pevely, Missouri collections agency. If you go this route, it is crucial to make sure that you hire an agency that is trustworthy, and follows the relevant law to the letter.
What if Someone Is Trying to Collect Money Against Me in Pevely, Missouri?
If you truly 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 polite 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 Pevely, Missouri. First of all, you should attempt 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 permitted 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 Pevely, Missouri, they might advise that you apply for bankruptcy. Of course, whether or not this is a good idea depends strongly on the facts of your specific case, so you should not do so unless an attorney has reviewed the facts and determined that bankruptcy is a possible solution.
How Can a Pevely, Missouri Collections Attorney Help?
If you think that a collection agency is engaging in unlawful tactics, you should call a local Pevely, Missouri attorney, as you might have a claim for damages against the creditor or the collection agency.
If you are thinking about applying for bankruptcy, a seasoned lawyer in Missouri can help you with that process, too.