"Collections" refers broadly to the various tools that creditors have at their disposal to get payment from debtors who are not paying what they owe. There are many Wadesboro, 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 Wadesboro, 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 specific consumer protection laws. Violating these laws can hurt your chances of recovering what you are owed, and even subject you to civil or criminal penalties.
For example, when trying to collect, creditors are not allowed to use abusive language, contact any third party regarding 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 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 Wadesboro, North Carolina collections agency. If you go this route, it is critical 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 Wadesboro, North Carolina?
If you actually owe the money being sought, and you are able to pay it, you should of course do so. If the collection caller is behaving amicably, you should do the same. Even if the caller doesn't behave in an amicable manner, you should resist the urge to respond in kind, and ask to speak with a supervisor, or simply end the conversation. Whatever you do, you should never ignore the issue. This will not make the problem go away.
Luckily, you have some options in Wadesboro, North Carolina. First of all, you should try to directly contact the creditor, and see if some altered payment plan can be worked out. If this doesn't work, you can ask the collectors to stop contacting you by phone, and they will usually be obliged to do so. Of course, this doesn't make the debt go away, but it may give you some time to collect yourself and prepare a legal defense. Once this happens, the collection agency can only contact you to inform you that it intends to sue you for the debt owed.
If you have hired a lawyer in Wadesboro, North Carolina, they might advise that you apply for bankruptcy. Of course, whether or not this is a good idea depends strongly on the facts of your particular case, so you should not do so unless an attorney has reviewed the facts and determined that bankruptcy is a viable solution.
How Can a Wadesboro, North Carolina Collections Attorney Help?
If you believe that a creditor is violating the law in its effort to collect from you, you should get in touch with a Wadesboro, North Carolina attorney, since you may actually have a claim for damages against the creditor.
If you are thinking about bankruptcy, a seasoned North Carolina bankrutpcy attorney can help guide you through the process.