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 Watertown, South Dakota that govern collection agencies, and strictly limit the types of tactics they are permitted to engage in.
What if I Am Owed Money in Watertown, South Dakota?
If somebody owes you money and is refusing to pay, you have various 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.
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 Watertown, South Dakota 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 Watertown, South Dakota?
If you know that you owe the money being sought of you, and have the capacity to pay it, you should do so - this is the quickest and surest way to end collections calls. Of course, this is not the case for everyone. Whatever your situation, you should always behave cordially with the collection callers, especially if they are doing the same. Whatever you do, you should not ignore the matter, because this will never make the problem go away, and will make things worse in the long run.
Thankfully, you have numerous options at your disposal in Watertown, South Dakota. First, you should try to contact the creditor directly, and see if some sort of solution can be worked out. If this is unsuccessful, you can tell the collectors to stop contacting you, which may work in some instances. Of course, this doesn't make the debt go away, but it might give you a little bit of breathing room. The collectors will only be allowed to contact you to let you know that they are suing you for the money owed, or that they have stopped attempting to collect the debt.
If you have retained the services of a Watertown, South Dakota attorney, they might 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 Watertown, 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 Watertown, South Dakota attorney, since you might truly 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.