"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 Saddle Brook, 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 Saddle Brook, 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 Saddle Brook, New Jersey collections agency. If you go this route, it is essential 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 Saddle Brook, 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 cordially, 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 many options at your disposal in Saddle Brook, New Jersey. 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 attempting to collect the debt.
If you have retained the services of a Saddle Brook, New Jersey attorney, they might advise that you declare bankruptcy, depending on your particular situation. In any case, you shouldn't consider bankruptcy before weighing other options, and discussing the matter with an attorney.
How Can a Saddle Brook, 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 Saddle Brook, 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.