"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 Tarboro, 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 Tarboro, 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 Tarboro, North Carolina collections agency. If you go this route, it is crucial to make sure that you hire an agency that is reputable, and follows the relevant law to the letter.
What if Someone Is Trying to Collect Money Against Me in Tarboro, 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.
However, you do have some options in Tarboro, North Carolina. First of all, you should make an effort to get in direct contact with the creditor, as opposed to the collection agency, and try to work something out. If this fails, you can tell the collections agency to stop calling you, and they usually are obliged to do so. Of course, this doesn't eliminate the debt, but it can buy you some time. You should know, however, that when you show that you are not interested in dealing with the creditors or collectors directly, they will usually resort to a lawsuit.
If you have retained a Tarboro, North Carolina attorney during this process, they might advise that the best course of action is to file for bankruptcy. This is a major decision, however, and should not be made lightly. You should only file for bankruptcy if an attorney advises you that it is a viable viable option, given your individual circumstances.
How Can a Tarboro, 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 Tarboro, North Carolina attorney, since such conduct on the part of the creditor might actually give you a claim for damages against it.
If you are thinking about bankruptcy, a good North Carolina bankrutpcy attorney can help guide you through the process.