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 Marlow, 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 Marlow, 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.
Some practices that collectors cannot engage in include the use of abusive language, contacting third parties about the debt, and threatened or actual violence.
Creditors may, however, send written demands for timely payment, along with an invoice that clearly lays out exactly what the debtor owes. If the debt is substantial, it might be worth it to hire a Marlow, Oklahoma collection agency, which usually gets paid through a percentage of the debt collected. You should make sure, however, that the agency is trustworthy, and hasn't been cited for violations of consumer protection laws.
What if Someone Is Trying to Collect Money Against Me in Marlow, Oklahoma?
If you truly 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 cordial 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 Marlow, Oklahoma. First of all, you should try 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 permitted 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 hired a Marlow, Oklahoma lawyer to help, he or she might advise that you file for bankruptcy. If you do file for bankruptcy, creditors are immediately required to suspend all collection activities. Of course, bankruptcy is a major decision, and should not be made without the advice of an attorney.
How Can a Marlow, Oklahoma Collections Attorney Help?
If you think that the collection agency is violating the law in its attempts to collect, you should probably call a Marlow, Oklahoma attorney, since such actions on the part of the creditor might actually give you a claim for damages against it.
If you are thinking about filing for bankruptcy, a good lawyer in Oklahoma can help you with that process, too.