"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 Camden, New Jersey 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 Camden, New Jersey?
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 blocks creditors from engaging in any form of violence against the debtor in an attempt to collect. It additionally 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 precisely how much the debtor allegedly owes. If there is a large amount of money involved, it might be worth it to hire a Camden, New Jersey 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 trustworthy, and carefully follows the law.
What if Someone Is Trying to Collect Money Against Me in Camden, New Jersey?
If you truly 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.
Your best option in Camden, New Jersey 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 typically 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 usually leaves them with no other option but to sue.
If you have hired a Camden, New Jersey attorney to help you through this process, he or she might advise that you declare bankruptcy. Once this occurs, creditors are legally barred from attempting to collect against the debtor. Of course, this is a major decision, and should not be made lightly.
How Can a Camden, New Jersey Collections Attorney Help?
If you believe that a creditor is violating the law in its attempts to collect from you, you should get in touch with a Camden, New Jersey attorney, since you might actually have a claim for damages against the creditor.
If you are thinking about filing for bankruptcy, a good lawyer in New Jersey can help you with that process, too.