"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 Bloomfield, New Mexico 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 Bloomfield, New Mexico?
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 Bloomfield, New Mexico collections agency. If you go this route, it is essential 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 Bloomfield, New Mexico?
If you know that you owe the money being sought of you, and have the ability to pay it, you should do so - this is the quickest and surest way to end collections calls. Of course, this is not the case for everyone. Whatever your situation, you should always behave cordially with the collection callers, especially if they are doing the same. Whatever you do, you should not ignore the matter, because this will never make the problem go away, and will make things worse in the long run.
Luckily, you have some options in Bloomfield, New Mexico. First of all, you should attempt to directly contact the creditor, and see if some adjusted payment plan can be worked out. If this doesn't work, you can ask the collectors to stop contacting you by phone, and they will normally be obliged to do so. Of course, this doesn't make the debt go away, but it might give you some time to collect yourself and prepare a legal defense. Once this happens, the collection agency can only contact you to inform you that it intends to sue you for the debt owed.
If you have retained the services of a Bloomfield, New Mexico 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 Bloomfield, New Mexico Collections Attorney Help?
If you believe that the collections agency is engaging in illegal or abusive activity, you should consult with a local attorney in Bloomfield, New Mexico, as you might actually have a claim for damages against the collection agency.
If you are thinking about filing for bankruptcy, a good lawyer in New Mexico can help you with that process, too.