"Collections" refers broadly to the various tools that creditors have at their disposal to get payment from debtors who are not paying what they owe. There are many Lovington, 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 Lovington, 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 Lovington, 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 Lovington, 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 amicably 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.
Your best option in Lovington, New Mexico might be to contact the creditor directly, and try to work out some type of new repayment plan. The earlier you do this, the more receptive to your ideas the creditor is likely to be. If this isn't successful, you can demand that the collectors stop contacting you by phone, and they will typically be obliged to do so. Of course, this doesn't make the debt go away, and you should only take this route if you are ready to defend against a lawsuit from your creditors, since demanding that they stop contacting you usually leaves them with no other option but to sue.
If you have retained a Lovington, New Mexico attorney during this process, they might advise that the best course of action is to apply for bankruptcy. This is a major decision, however, and should not be made easily. You should only apply for bankruptcy if an attorney advises you that it is a viable possible option, given your individual circumstances.
How Can a Lovington, New Mexico Collections Attorney Help?
If you think that a collection agency is engaging in unlawful tactics, you should call a local Lovington, 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.