"Collections" refers broadly to the many tools that creditors have at their disposal to obtain payment from debtors who are not paying what they owe. There are many Albany, New York 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 Albany, New York?
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.
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 an Albany, New York collections agency. If you go this route, it is critical 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 Albany, New York?
If you actually owe the money that is being sought, and can afford to pay it, you should do so. If the collection caller is behaving in a civil manner, you should try to do the same. In any case, the worst thing you can do is ignore the issue hoping that it will go away. It won't.
Luckily, you have some options in Albany, New York. First of all, you should attempt to directly contact the creditor, and see if some modified 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 usually 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 an Albany, New York 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 Albany, New York 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 Albany, New York, as you might actually have a claim for damages against the collection agency.
If you are thinking about bankruptcy, a good New York bankrutpcy attorney can help guide you through the process.