Broadly, the term "Collections" refers to the practice of creditors attempting to force debtors to pay what they owe. There are numerous laws and regulations in Alva, Oklahoma that govern collection agencies, and strictly limit the types of tactics they are permitted to engage in.
What if I Am Owed Money in Alva, Oklahoma?
If someone owes you money and refuses to pay it, you have various options at your disposal. However, when it comes to collecting their debts, creditors are governed by strict consumer protection rules. Violation of these rules while attempting to collect could hurt your chances at successfully recovering your money, and/or subject you to civil penalties.
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.
You may, however, send a written demand for timely payment. The demand should lay out precisely how much the debtor allegedly owes. If there is a large amount of money involved, it might be worth it to hire an Alva, Oklahoma collections agency, which will probably take its fee in the form of a percentage of the debt collected. You should do some research on various collections agencies in your area, to make sure the one you hire is trustworthy, and carefully follows the law.
What if Someone Is Trying to Collect Money Against Me in Alva, Oklahoma?
If you truly 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.
Luckily, you have some options in Alva, Oklahoma. First of all, you should attempt to directly contact the creditor, and see if some adjusted 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 typically 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 hired a lawyer in Alva, Oklahoma, 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 specific case, so you should not do so until an attorney has reviewed the facts and determined that bankruptcy is a possible solution.
How Can a Alva, Oklahoma Collections Attorney Help?
If you think that the collection agency is violating the law in its attempts to collect, you should probably call an Alva, Oklahoma attorney, since such actions on the part of the creditor might actually give you a claim for damages against it.
Also, if you are considering bankruptcy as an option, a good Oklahoma attorney can help guide you through the process.