"Collections" refers broadly to the various tools that creditors have at their disposal to get payment from debtors who are not paying what they owe. There are many Magee, 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 Magee, 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 Magee, 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 Magee, Mississippi?
If you actually owe the money that they are attempting to collect, and are able to pay it, doing so would be your best option for ending the collections calls. Of course, this is not everybody's situation. When dealing with collectors, you should try to maintain the high ground by behaving in a calm and amicable manner. In any event, you should never ignore the problem, as this usually makes things worse.
Thankfully, you have many options at your disposal in Magee, Mississippi. First, you should try to contact the creditor directly, and see if some sort of deal can be worked out. If this is unsuccessful, you can tell the collectors to stop contacting you, which may work in some instances. Of course, this doesn't make the debt go away, but it might give you a little bit of breathing room. The collectors will only be allowed to contact you to let you know that they are suing you for the money owed, or that they have stopped trying to collect the debt.
If you have hired a Magee, Mississippi lawyer to help, he or she may advise that you file for bankruptcy. If you do apply for bankruptcy, creditors are immediately required to suspend all collection activities. Of course, bankruptcy is a major decision, and should not be made without the advice of an attorney.
How Can a Magee, Mississippi Collections Attorney Help?
If you believe that a creditor is violating the law in its effort to collect from you, you should get in touch with a Magee, Mississippi attorney, since you may actually have a claim for damages against the creditor.
Also, if you are considering bankruptcy as an option, a seasoned Mississippi attorney can help guide you through the process.