"Collections" refers broadly to the countless tools that creditors have at their disposal to acquire payment from debtors who are not paying what they owe. There are many Hobbs, 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 Hobbs, 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 rules that govern collections before you proceed, as violating them can hurt your chances of collecting, and even expose you to liability.
As an example, when attempting to collect, creditors may not use abusive language, contact third parties regarding the debt, or use violence or threats of violence.
What you can do, however, is send an invoice of the debt to the debtor, along with a firm (but civil) demand for timely payment. If the debt is substantial, you might also want to hire a collection agency in Hobbs, New Mexico. You should make sure that any agency you hire is trustworthy, and has not been cited for violations of the rules governing collections.
What if Someone Is Trying to Collect Money Against Me in Hobbs, New Mexico?
If you know that you owe the money being sought of you, and have the capacity to pay it, you should do so - this is the fastest and surest way to end collections calls. Of course, this is not the case for everyone. Whatever your situation, you should always behave courteously 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.
Fortunately, you have some options in Hobbs, New Mexico. First of all, you should attempt to contact the creditor directly, and see if something can be worked out. If this doesn't work, you can demand that the collection agency stop contacting you by phone. When this happens, they are not permitted to contact you further. This, of course, doesn't make the debt go away, but if the calls are becoming unbearable, it might buy you a little bit of time. Usually, when this happens, the creditor gives up on extra-judicial collections, and files a lawsuit against the debtor.
If you have hired a Hobbs, New Mexico attorney to help you through this process, he or she may advise that you declare bankruptcy. Once this occurs, creditors are legally barred from trying to collect against the debtor. Of course, this is a major decision, and should not be made lightly.
How Can a Hobbs, New Mexico Collections Attorney Help?
If you think that a collection agency is engaging in unlawful tactics, you should call a local Hobbs, New Mexico attorney, as you might have a claim for damages against the creditor or the collection agency.
Also, if you're considering applying for bankruptcy, a seasoned attorney in New Mexico can tell you if this is a good option, and, if it is, help you through the process.