"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 Stallings, 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 Stallings, 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.
One thing you are allowed to do is send a written demand for immediate payment. The demand should lay out the exact 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 prudent to hire a Stallings, North Carolina collections agency. If you go this route, it is critical to make sure that you hire an agency that is dependable, and follows the relevant law to the letter.
What if Someone Is Trying to Collect Money Against Me in Stallings, 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 cordially, 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 Stallings, 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 hired a Stallings, North Carolina attorney to help you through this process, he or she might advise that you declare bankruptcy. Once this occurs, creditors are legally barred from attempting to collect against the debtor. Of course, this is a major decision, and should not be made lightly.
How Can a Stallings, North Carolina Collections Attorney Help?
If you think that the collection agency is violating the law in its attempts to collect, you should probably call a Stallings, North Carolina attorney, since such behavior on the part of the creditor might actually give you a claim for damages against it.
If you are thinking about filing for bankruptcy, a good lawyer in North Carolina can help you with that process, too.