Broadly, the term "Collections" refers to the practice of creditors trying to force debtors to pay what they owe. There are numerous laws and regulations in Guymon, 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 Guymon, Oklahoma?
If someone owes you money and declines to pay it, you have various 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 Guymon, Oklahoma collections agency. If you go this route, it is important to make sure that you hire an agency that is trustworthy, and follows the relevant law to the letter.
What if Someone Is Trying to Collect Money Against Me in Guymon, 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 courteously, you should do the same. Even if the caller doesn't behave in a polite manner, you should resist the urge 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 Guymon, 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 typically 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 retained the services of a Guymon, Oklahoma attorney, they may advise that you declare bankruptcy, depending on your specific situation. In any case, you shouldn't consider bankruptcy before weighing other options, and discussing the matter with an attorney.
How Can a Guymon, Oklahoma Collections Attorney Help?
If you believe that the collections agency is engaging in unlawful or abusive activity, you should consult with a local attorney in Guymon, Oklahoma, as you may actually have a claim for damages against the collection agency.
If you are thinking about applying for bankruptcy, a seasoned lawyer in Oklahoma can help you with that process, too.