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 Addison, Texas that govern collection agencies, and strictly limit the types of tactics they are allowed to engage in.
What if I Am Owed Money in Addison, Texas?
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 an Addison, Texas 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 Addison, Texas?
If you know that you owe the money being sought of you, and have the resources 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 many options at your disposal in Addison, Texas. First, you should try to contact the creditor directly, and see if some sort of deal 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 an Addison, Texas 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 Addison, Texas Collections Attorney Help?
If you think that the collection agency is violating the law in its attempts to collect, you should probably call an Addison, Texas attorney, since such conduct on the part of the creditor might actually give you a claim for damages against it.
Also, if you are considering bankruptcy as an option, a good Texas attorney can help guide you through the process.