"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 Stratham, New Hampshire 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 Stratham, New Hampshire?
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.
The law prevents creditors from engaging in any form of violence against the debtor in an attempt to collect. It further bars them from using abusive language or contacting third parties about the debt owed by the debtor.
You may, however, send a written demand for timely payment. The demand should lay out clearly how much the debtor allegedly owes. If there is a large amount of money involved, it might be worth it to hire a Stratham, New Hampshire collections agency, which will probably take its fee in the form of a percentage of the debt collected. You should do some research on various collections agencies in your area, to make sure the one you hire is dependable, and carefully follows the law.
What if Someone Is Trying to Collect Money Against Me in Stratham, New Hampshire?
If you really owe the money that is being sought, and can afford to pay it, you should do so. If the collection caller is behaving in a cordial manner, you should try to do the same. In any case, the worst thing you can do is ignore the issue hoping that it will go away. It won't.
Your best option in Stratham, New Hampshire might be to contact the creditor directly, and try to work out some type of new repayment plan. The sooner you do this, the more receptive to your ideas the creditor is likely to be. If this isn't successful, you can demand that the collectors stop contacting you by phone, and they will normally be obliged to do so. Of course, this doesn't make the debt go away, and you should only take this route if you are prepared to defend against a lawsuit from your creditors, since demanding that they stop contacting you typically leaves them with no other option but to sue.
If you have hired a lawyer in Stratham, New Hampshire, 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 individual case, so you should not do so until an attorney has reviewed the facts and determined that bankruptcy is a feasible solution.
How Can a Stratham, New Hampshire Collections Attorney Help?
If you think that a collection agency is engaging in illegal tactics, you should call a local Stratham, New Hampshire attorney, as you might have a claim for damages against the creditor or the collection agency.
If you are thinking about filing for bankruptcy, a good lawyer in New Hampshire can help you with that process, too.