"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 Ballston Spa, 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 Ballston Spa, 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 a Ballston Spa, New York collections agency. If you go this route, it is important 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 Ballston Spa, New York?
If you actually owe the money being sought, and you are able to pay it, you should of course do so. If the collection caller is behaving cordially, you should do the same. Even if the caller doesn't behave in a cordial manner, you should resist the temptation to respond in kind, and ask to speak with a supervisor, or simply end the conversation. Whatever you do, you should never ignore the issue. This will not make the problem go away.
Thankfully, you have many options at your disposal in Ballston Spa, New York. First, you should try to contact the creditor directly, and see if some sort of deal can be worked out. If this is unsuccessful, you can tell the collectors to stop contacting you, which may work in some instances. Of course, this doesn't make the debt go away, but it might give you a little bit of breathing room. The collectors will only be allowed to contact you to let you know that they are suing you for the money owed, or that they have stopped attempting to collect the debt.
If you have hired a lawyer in Ballston Spa, New York, they might advise that you file for bankruptcy. Of course, whether or not this is a good idea depends heavily on the facts of your particular case, so you should not do so until an attorney has reviewed the facts and determined that bankruptcy is a viable solution.
How Can a Ballston Spa, New York Collections Attorney Help?
If you think that a collection agency is engaging in abusive tactics, you should call a local Ballston Spa, New York attorney, as you might have a claim for damages against the creditor or the collection agency.
Also, if you're considering filing for bankruptcy, a good attorney in New York can tell you if this is a good option, and, if it is, help you through the process.