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 Bryn Mawr, Pennsylvania that govern collection agencies, and strictly limit the types of tactics they are allowed to engage in.
What if I Am Owed Money in Bryn Mawr, Pennsylvania?
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.
The law prohibits creditors from engaging in any form of violence against the debtor in an attempt to collect. It also bars them from using abusive language or contacting third parties about the debt owed by the debtor.
You may, however, send a written demand for timely payment which lays out to the debtor exactly how much is owed. If a large amount of money is owed to you, it might be a good idea to hire a collections agency in Bryn Mawr, Pennsylvania. These agencies usually take their fee in the form of a percentage of the debt collected. You need to research agencies thoroughly however, and make sure the one you hire does not engage in illegal practices.
What if Someone Is Trying to Collect Money Against Me in Bryn Mawr, Pennsylvania?
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 a polite 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 Bryn Mawr, Pennsylvania. 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 cease calling you, and they usually are obliged to do so. Of course, this doesn't expunge 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 the services of a Bryn Mawr, Pennsylvania 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 Bryn Mawr, Pennsylvania Collections Attorney Help?
If you think that a collection agency is engaging in abusive tactics, you should call a local Bryn Mawr, Pennsylvania 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 Pennsylvania can help you with that process, too.