Broadly, the term "Collections" refers to the practice of creditors attempting to force debtors to pay what they owe. There are many laws and regulations in Guthrie, 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 Guthrie, Oklahoma?
If someone owes you money and refuses to pay it, you have several 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.
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 Guthrie, 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 Guthrie, Oklahoma?
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 civilly, you should do the same. Even if the caller doesn't behave in a civil 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 Guthrie, Oklahoma. First of all, you should attempt to directly contact the creditor, and see if some modified 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 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 retained the services of a Guthrie, Oklahoma attorney, they might 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 Guthrie, Oklahoma Collections Attorney Help?
If you believe that the collections agency is engaging in illegal or abusive activity, you should consult with a local attorney in Guthrie, Oklahoma, as you might actually have a claim for damages against the collection agency.
If you are thinking about bankruptcy, a good Oklahoma bankrutpcy attorney can help guide you through the process.