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 Duncan, 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 Duncan, 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 Duncan, 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 Duncan, 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 an amicable 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.
Fortunately, you have some options in Duncan, Oklahoma. First of all, you should attempt to contact the creditor directly, and see if something can be worked out. If this doesn't work, you can demand that the collection agency stop contacting you by phone. When this happens, they are not allowed to contact you further. This, of course, doesn't make the debt go away, but if the calls are becoming unbearable, it might buy you a little bit of time. Usually, when this happens, the creditor gives up on extra-judicial collections, and files a lawsuit against the debtor.
If you have retained the services of a Duncan, Oklahoma attorney, they may 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 Duncan, Oklahoma Collections Attorney Help?
If you think that a collection agency is engaging in abusive tactics, you should call a local Duncan, Oklahoma attorney, as you might have a claim for damages against the creditor or the collection agency.
If you are thinking about applying for bankruptcy, a seasoned lawyer in Oklahoma can help you with that process, too.