Broadly, the term "Collections" refers to the practice of creditors trying to force debtors to pay what they owe. There are many laws and regulations in Coweta, Oklahoma that govern collection agencies, and strictly limit the types of tactics they are allowed to engage in.
What if I Am Owed Money in Coweta, Oklahoma?
If someone owes you money and declines to pay it, you have several options at your disposal. However, when it comes to collecting their debts, creditors are governed by specific consumer protection rules. Violation of these rules while attempting to collect could hurt your chances at effectively recovering your money, and/or subject you to civil penalties.
As an example, when attempting 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 precise 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 wise to hire a Coweta, Oklahoma collections agency. If you go this route, it is necessary 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 Coweta, Oklahoma?
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 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.
Luckily, you have some options in Coweta, Oklahoma. First of all, you should try to directly contact the creditor, and see if some revised 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 may 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 Coweta, Oklahoma, they might advise that you apply for bankruptcy. Of course, whether or not this is a good idea depends strongly on the facts of your particular case, so you should not do so unless an attorney has reviewed the facts and determined that bankruptcy is a viable solution.
How Can a Coweta, Oklahoma 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 a Coweta, Oklahoma attorney, since you may actually have a claim for damages against the creditor.
If you are thinking about bankruptcy, a seasoned Oklahoma bankrutpcy attorney can help guide you through the process.