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 Box Elder, South Dakota that govern collection agencies, and strictly limit the types of tactics they are allowed to engage in.
What if I Am Owed Money in Box Elder, South Dakota?
If somebody owes you money and is refusing to pay, you have several options at your disposal. However, in doing so, you will be governed by very strict consumer protection laws that govern the collection of debts. Breaking these rules can hurt your chances at successfully collecting, and might even expose you to civil liability.
For example, when attempting to collect, creditors are not allowed to use abusive language, contact any third party about the debt, and of course they are not allowed to use threats of violence in an attempt to get their money.
You may, however, send a written demand for timely payment. The demand should lay out exactly how much the debtor allegedly owes. If there is a large amount of money involved, it might be worth it to hire a Box Elder, South Dakota collections agency, which will probably take its fee in the form of a percentage of the debt collected. You should do some research on various collections agencies in your area, to make sure the one you hire is reputable, and carefully follows the law.
What if Someone Is Trying to Collect Money Against Me in Box Elder, South Dakota?
Of course, if you owe money and have the ability to pay it, you should do so. If the collections caller is behaving cordially, you should do the same. In any case, it is never a good idea to ignore the issue, because that will definitely not make it go away.
Fortunately, you have some options in Box Elder, South Dakota. 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 allowed 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 retained the services of a Box Elder, South Dakota 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 Box Elder, South Dakota Collections Attorney Help?
If you believe that a creditor is violating the law in its attempts to collect from you, you should get in touch with a Box Elder, South Dakota attorney, since you might actually have a claim for damages against the creditor.
If you are thinking about bankruptcy, a good South Dakota bankrutpcy attorney can help guide you through the process.