Broadly, the term "Collections" refers to the practice of creditors attempting to force debtors to pay what they owe. There are various laws and regulations in Lake Oswego, Oregon that govern collection agencies, and strictly limit the types of tactics they are authorized to engage in.
What if I Am Owed Money in Lake Oswego, Oregon?
If someone owes you money and refuses to pay it, you have many 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.
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 Lake Oswego, Oregon collections agency. If you go this route, it is critical to make sure that you hire an agency that is dependable, and follows the relevant law to the letter.
What if Someone Is Trying to Collect Money Against Me in Lake Oswego, Oregon?
If you really 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.
However, you do have some options in Lake Oswego, Oregon. First of all, you should make an effort to get in direct contact with the creditor, as opposed to the collection agency, and try to work something out. If this fails, you can tell the collections agency to stop calling you, and they normally are obliged to do so. Of course, this doesn't eliminate the debt, but it can buy you some time. You should know, however, that when you show that you are not interested in dealing with the creditors or collectors directly, they will usually resort to a lawsuit.
If you have retained a Lake Oswego, Oregon attorney during this process, they might advise that the best course of action is to file for bankruptcy. This is a major decision, however, and should not be made lightly. You should only file for bankruptcy if an attorney advises you that it is a viable feasible option, given your individual circumstances.
How Can a Lake Oswego, Oregon Collections Attorney Help?
If you think that the collection agency is violating the law in its attempts to collect, you should probably call a Lake Oswego, Oregon attorney, since such behavior on the part of the creditor might actually give you a claim for damages against it.
If you are thinking about bankruptcy, a good Oregon bankrutpcy attorney can help guide you through the process.