"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 Wake Forest, 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 Wake Forest, 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 Wake Forest, North Carolina collections agency. If you go this route, it is essential 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 Wake Forest, 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 cordially, you should do the same. Even if the caller doesn't behave in a cordial manner, you should resist the temptation 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 Wake Forest, North Carolina. First of all, you should attempt to directly contact the creditor, and see if some adjusted 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 might 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 Wake Forest, North Carolina, they might advise that you file for bankruptcy. Of course, whether or not this is a good idea depends heavily on the facts of your particular case, so you should not do so until an attorney has reviewed the facts and determined that bankruptcy is a viable solution.
How Can a Wake Forest, 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 Wake Forest, 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.