"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 Forest, Mississippi 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 Forest, Mississippi?
If someone owes you money and declines to pay it, you have several 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.
For example, it should go without mentioning that creditors are not allowed to use threatened or actual violence when attempting to collect. They are also not allowed to use abusive language to the debtor, or contact a third party about the debt.
You may, however, send a written demand for timely payment which lays out to the debtor exactly how much is owed. If a large amount of money is owed to you, it might be a good idea to hire a collections agency in Forest, Mississippi. These agencies usually take their fee in the form of a percentage of the debt collected. You need to research agencies thoroughly however, and make sure the one you hire does not engage in illegal practices.
What if Someone Is Trying to Collect Money Against Me in Forest, Mississippi?
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 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.
However, you do have some options in Forest, Mississippi. 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 cease calling you, and they usually are obliged to do so. Of course, this doesn't expunge 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 retained the services of a Forest, Mississippi attorney, they may advise that you declare bankruptcy, depending on your particular situation. In any case, you shouldn't consider bankruptcy before weighing other options, and discussing the matter with an attorney.
How Can a Forest, Mississippi Collections Attorney Help?
If you think that a collection agency is engaging in abusive tactics, you should call a local Forest, Mississippi 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 seasoned Mississippi attorney can help guide you through the process.