"Collections" refers broadly to the numerous tools that creditors have at their disposal to receive payment from debtors who are not paying what they owe. There are many Rock Hill, 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 Rock Hill, Missouri?
If someone owes you money and refuses to pay it, you have many 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 Rock Hill, Missouri collections agency. If you go this route, it is critical to make sure that you hire an agency that is dependable, and follows the relevant law to the letter.
What if Someone Is Trying to Collect Money Against Me in Rock Hill, 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 cordially, you should do the same. Even if the caller doesn't behave in a cordial manner, you should resist the temptation 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.
However, you do have some options in Rock Hill, Missouri. First of all, you should make an effort to get in direct contact with the creditor, as opposed to the collection agency, and try to work something out. If this fails, you can tell the collections agency to stop calling you, and they normally are obliged to do so. Of course, this doesn't eliminate the debt, but it can buy you some time. You should know, however, that when you show that you are not interested in dealing with the creditors or collectors directly, they will usually resort to a lawsuit.
If you have hired a Rock Hill, Missouri attorney to help you through this process, he or she might advise that you declare bankruptcy. Once this occurs, creditors are legally barred from attempting to collect against the debtor. Of course, this is a major decision, and should not be made lightly.
How Can a Rock Hill, Missouri Collections Attorney Help?
If you think that a collection agency is engaging in illegal tactics, you should call a local Rock Hill, Missouri attorney, as you might have a claim for damages against the creditor or the collection agency.
If you are thinking about filing for bankruptcy, a good lawyer in Missouri can help you with that process, too.