"Collections" refers broadly to the countless tools that creditors have at their disposal to acquire payment from debtors who are not paying what they owe. There are many Winston Salem, 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 Winston Salem, 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 Winston Salem, 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 Winston Salem, North Carolina?
If you know that you owe the money being sought of you, and have the resources to pay it, you should do so - this is the fastest and surest way to end collections calls. Of course, this is not the case for everyone. Whatever your situation, you should always behave courteously with the collection callers, especially if they are doing the same. Whatever you do, you should not ignore the matter, because this will never make the problem go away, and will make things worse in the long run.
Thankfully, you have many options at your disposal in Winston Salem, North Carolina. First, you should try to contact the creditor directly, and see if some sort of deal can be worked out. If this is unsuccessful, you can tell the collectors to stop contacting you, which may work in some instances. Of course, this doesn't make the debt go away, but it might give you a little bit of breathing room. The collectors will only be allowed to contact you to let you know that they are suing you for the money owed, or that they have stopped trying to collect the debt.
If you have retained a Winston Salem, North Carolina attorney during this process, they might advise that the best course of action is to apply for bankruptcy. This is a major decision, however, and should not be made easily. You should only apply for bankruptcy if an attorney advises you that it is a viable viable option, given your individual circumstances.
How Can a Winston Salem, 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 Winston Salem, North Carolina attorney, since you might actually have a claim for damages against the creditor.
Also, if you're considering applying for bankruptcy, a seasoned attorney in North Carolina can tell you if this is a good option, and, if it is, help you through the process.