"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 Endicott, 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 Endicott, 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 rules that govern collections before you proceed, as violating them can hurt your chances of collecting, and even expose you to liability.
The law prevents creditors from engaging in any form of violence against the debtor in an attempt to collect. It further bars them from using abusive language or contacting third parties about the debt owed by the debtor.
Creditors may, however, send written demands for timely payment, along with an invoice that precisely lays out exactly what the debtor owes. If the debt is considerable, it might be worth it to hire an Endicott, New York collection agency, which usually gets paid through a percentage of the debt collected. You should make sure, however, that the agency is dependable, and hasn't been cited for violations of consumer protection laws.
What if Someone Is Trying to Collect Money Against Me in Endicott, New York?
If you really 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 polite 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.
Your best option in Endicott, New York 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 normally 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 typically leaves them with no other option but to sue.
If you have retained an Endicott, New York 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 feasible option, given your individual circumstances.
How Can a Endicott, New York Collections Attorney Help?
If you believe that a creditor is violating the law in its effort to collect from you, you should get in touch with an Endicott, New York attorney, since you might really have a claim for damages against the creditor.
If you are thinking about bankruptcy, a seasoned New York bankrutpcy attorney can help guide you through the process.