"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 Cary, North Carolina 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 Cary, North Carolina?
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.
The law prevents creditors from engaging in any form of violence against the debtor in an attempt to collect. It further bars them from using abusive language or contacting third parties about the debt owed by the debtor.
You may, however, send a written demand for timely payment. The demand should lay out clearly how much the debtor allegedly owes. If there is a large amount of money involved, it might be worth it to hire a Cary, North Carolina collections agency, which will probably take its fee in the form of a percentage of the debt collected. You should do some research on various collections agencies in your area, to make sure the one you hire is dependable, and carefully follows the law.
What if Someone Is Trying to Collect Money Against Me in Cary, North Carolina?
If you really 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 cordial 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 Cary, North Carolina. 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 authorized 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 Cary, North Carolina attorney, they might advise that you declare bankruptcy, depending on your individual situation. In any case, you shouldn't consider bankruptcy before weighing other options, and discussing the matter with an attorney.
How Can a Cary, North Carolina 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 Cary, North Carolina, as you might actually have a claim for damages against the collection agency.
If you are thinking about bankruptcy, a good North Carolina bankrutpcy attorney can help guide you through the process.