"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 Ridgewood, 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 Ridgewood, 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.
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 Ridgewood, New Jersey collections agency. If you go this route, it is necessary to make sure that you hire an agency that is dependable, and follows the relevant law to the letter.
What if Someone Is Trying to Collect Money Against Me in Ridgewood, 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 Ridgewood, 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 a Ridgewood, New Jersey attorney during this process, they might advise that the best course of action is to file for bankruptcy. This is a major decision, however, and should not be made lightly. You should only file for bankruptcy if an attorney advises you that it is a viable feasible option, given your individual circumstances.
How Can a Ridgewood, 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 Ridgewood, New Jersey attorney, since you might really have a claim for damages against the creditor.
Also, if you're considering filing for bankruptcy, a good attorney in New Jersey can tell you if this is a good option, and, if it is, help you through the process.