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 Portland, Tennessee that govern collection agencies, and strictly limit the types of tactics they are allowed to engage in.
What if I Am Owed Money in Portland, Tennessee?
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.
As an example, when trying to collect, creditors may not use abusive language, contact third parties regarding the debt, or use violence or threats of 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 Portland, Tennessee collections agency. If you go this route, it is critical to make sure that you hire an agency that is reputable, and follows the relevant law to the letter.
What if Someone Is Trying to Collect Money Against Me in Portland, Tennessee?
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 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.
Luckily, you have some options in Portland, Tennessee. First of all, you should attempt to directly contact the creditor, and see if some adjusted 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 usually be obliged to do so. Of course, this doesn't make the debt go away, but it might 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 a Portland, Tennessee 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 viable option, given your individual circumstances.
How Can a Portland, Tennessee 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 Portland, Tennessee attorney, since you might actually have a claim for damages against the creditor.
Also, if you are considering bankruptcy as an option, a good Tennessee attorney can help guide you through the process.