"Collections" refers broadly to the many tools that creditors have at their disposal to obtain payment from debtors who are not paying what they owe. There are many Marlboro, 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 Marlboro, New Jersey?
If you are owed money and the debtor won't pay, for whatever reason, you are entitled to seek collection by any lawful means. Of course, the means of collection that are considered "lawful" are quite limited. You should be aware of the laws that govern collections before you proceed, as breaking them can hurt your chances of collecting, and even expose you to liability.
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.
You may, however, send a written demand for timely payment which lays out to the debtor clearly how much is owed. If a large amount of money is owed to you, it might be a good idea to hire a collections agency in Marlboro, New Jersey. These agencies usually take their fee in the form of a percentage of the debt collected. You need to research agencies carefully however, and make sure the one you hire does not engage in illegal practices.
What if Someone Is Trying to Collect Money Against Me in Marlboro, New Jersey?
Of course, if you owe money and have the ability to pay it, you should do so. If the collections caller is behaving civilly, you should do the same. In any case, it is never a good idea to ignore the issue, because that will definitely not make it go away.
Thankfully, you have various options at your disposal in Marlboro, New Jersey. First, you should try to contact the creditor directly, and see if some sort of agreement 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 attempting to collect the debt.
If you have retained the services of a Marlboro, New Jersey attorney, they might advise that you declare bankruptcy, depending on your individual situation. In any case, you shouldn't consider bankruptcy before weighing other options, and discussing the matter with an attorney.
How Can a Marlboro, 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 Marlboro, New Jersey attorney, since you might actually have a claim for damages against the creditor.
If you are thinking about bankruptcy, a good New Jersey bankrutpcy attorney can help guide you through the process.