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 Leon Valley, Texas that govern collection agencies, and strictly limit the types of tactics they are permitted to engage in.
What if I Am Owed Money in Leon Valley, Texas?
If someone owes you money and won't pay, you have several legal options to seek repayment of your debt. However, you need to be careful in this area. There are many rules and regulations detailing what debt collectors can and cannot do. Violating these laws, even inadvertently, can harm your chances at collecting, and maybe even expose you to civil penalties.
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.
You may, however, send a written demand for timely payment. The demand should lay out precisely how much the debtor allegedly owes. If there is a large amount of money involved, it may be worth it to hire a Leon Valley, Texas collections agency, which will probably take its fee in the form of a percentage of the debt collected. You should do some research on different collections agencies in your area, to make sure the one you hire is trustworthy, and thoroughly follows the law.
What if Someone Is Trying to Collect Money Against Me in Leon Valley, Texas?
Of course, if you owe money and have the capacity to pay it, you should do so. If the collections caller is behaving amicably, 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.
Thankfully, you have numerous options at your disposal in Leon Valley, Texas. 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 trying to collect the debt.
If you have retained the services of a Leon Valley, Texas 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 Leon Valley, Texas 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 Leon Valley, Texas attorney, since you may actually have a claim for damages against the creditor.
Also, if you are considering bankruptcy as an option, a seasoned Texas attorney can help guide you through the process.