"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 Sullivan, 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 Sullivan, Missouri?
If someone owes you money and refuses to pay it, you have various 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 Sullivan, Missouri collections agency. If you go this route, it is critical 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 Sullivan, Missouri?
If you know that you owe the money being sought of you, and have the capacity to pay it, you should do so - this is the quickest and surest way to end collections calls. Of course, this is not the case for everyone. Whatever your situation, you should always behave cordially with the collection callers, especially if they are doing the same. Whatever you do, you should not ignore the matter, because this will never make the problem go away, and will make things worse in the long run.
Fortunately, you have some options in Sullivan, 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 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 retained the services of a Sullivan, Missouri attorney, they might advise that you declare bankruptcy, depending on your specific situation. In any case, you shouldn't consider bankruptcy before weighing other options, and discussing the matter with an attorney.
How Can a Sullivan, Missouri Collections Attorney Help?
If you believe that the collections agency is engaging in illegal or abusive activity, you should consult with a local attorney in Sullivan, Missouri, as you might actually have a claim for damages against the collection agency.
If you are thinking about filing for bankruptcy, a good lawyer in Missouri can help you with that process, too.