"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 Ripley, 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 Ripley, Mississippi?
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.
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 permitted to use abusive language to the debtor, or contact a third party about the debt.
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 Ripley, Mississippi 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 Ripley, Mississippi?
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 Ripley, Mississippi. 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 retained the services of a Ripley, Mississippi attorney, they may 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 Ripley, Mississippi Collections Attorney Help?
If you think that a collection agency is engaging in unlawful tactics, you should call a local Ripley, Mississippi 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 Mississippi can help you with that process, too.