"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 Rio Rancho, 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 Rio Rancho, 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.
As an example, when trying 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 Rio Rancho, New Mexico. You should make sure that any agency you hire is trustworthy, and has not been cited for violations of the laws governing collections.
What if Someone Is Trying to Collect Money Against Me in Rio Rancho, New Mexico?
If you truly owe the money that they are trying to collect, and are able to pay it, doing so would be your best option for ending the collections calls. Of course, this is not everybody's situation. When dealing with collectors, you should try to maintain the high ground by behaving in a calm and cordial manner. In any event, you should never ignore the problem, as this usually makes things worse.
However, you do have some options in Rio Rancho, New Mexico. First of all, you should make an effort to get in direct contact with the creditor, as opposed to the collection agency, and try to work something out. If this fails, you can tell the collections agency to stop calling you, and they typically are obliged to do so. Of course, this doesn't eliminate the debt, but it can buy you some time. You should know, however, that when you show that you are not interested in dealing with the creditors or collectors directly, they will usually resort to a lawsuit.
If you have retained a Rio Rancho, New Mexico 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 possible option, given your individual circumstances.
How Can a Rio Rancho, New Mexico Collections Attorney Help?
If you think that a collection agency is engaging in unlawful tactics, you should call a local Rio Rancho, New Mexico attorney, as you might have a claim for damages against the creditor or the collection agency.
Also, if you are considering bankruptcy as an option, a good New Mexico attorney can help guide you through the process.