Broadly, the term "Collections" refers to the practice of creditors trying to force debtors to pay what they owe. There are numerous laws and regulations in Yankton, 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 Yankton, South Dakota?
If somebody owes you money and is declining to pay, you have various options at your disposal. However, in doing so, you will be governed by very specific consumer protection rules that govern the collection of debts. Violating these rules can hurt your chances at effectively collecting, and might even expose you to civil liability.
For example, when trying to collect, creditors are not allowed to use abusive language, contact any third party regarding 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 precise 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 wise to hire a Yankton, South Dakota collections agency. If you go this route, it is crucial 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 Yankton, 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 fastest and surest way to end collections calls. Of course, this is not the case for everyone. Whatever your situation, you should always behave amicably 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.
Luckily, you have some options in Yankton, South Dakota. First of all, you should try to directly contact the creditor, and see if some altered payment plan can be worked out. If this doesn't work, you can ask the collectors to stop contacting you by phone, and they will typically be obliged to do so. Of course, this doesn't make the debt go away, but it may give you some time to collect yourself and prepare a legal defense. Once this happens, the collection agency can only contact you to inform you that it intends to sue you for the debt owed.
If you have retained the services of a Yankton, South Dakota attorney, they may 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 Yankton, South Dakota Collections Attorney Help?
If you believe that a creditor is violating the law in its effort to collect from you, you should get in touch with a Yankton, South Dakota attorney, since you may actually have a claim for damages against the creditor.
If you are thinking about applying for bankruptcy, a seasoned lawyer in South Dakota can help you with that process, too.