"Collections" refers broadly to the many tools that creditors have at their disposal to obtain payment from debtors who are not paying what they owe. There are many Morganton, 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 Morganton, North Carolina?
If you are owed money and the debtor refuses to pay, you have some options at your disposal. However, you must tread lightly when it comes to collecting your debts. Creditors and collectors are governed by strict consumer protection rules. Violating these rules can hurt your chances of recovering what you are owed, and even subject you to civil or criminal penalties.
For example, when attempting to collect, creditors are not allowed to use abusive language, contact any third party about the debt, and of course they are not allowed to use threats of violence in an attempt to get their money.
You may, however, send a written demand for timely payment. The demand should lay out exactly how much the debtor allegedly owes. If there is a large amount of money involved, it might be worth it to hire a Morganton, 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 reputable, and scrupulously follows the law.
What if Someone Is Trying to Collect Money Against Me in Morganton, North Carolina?
Of course, if you owe money and have the ability to pay it, you should do so. If the collections caller is behaving civilly, you should do the same. In any case, it is never a good idea to ignore the issue, because that will definitely not make it go away.
Fortunately, you have some options in Morganton, 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 allowed 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 Morganton, North Carolina attorney, they might 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 Morganton, North Carolina Collections Attorney Help?
If you think that a collection agency is engaging in abusive tactics, you should call a local Morganton, North Carolina attorney, as you might have a claim for damages against the creditor or the collection agency.
If you are thinking about filing for bankruptcy, a good lawyer in North Carolina can help you with that process, too.