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 Live Oak, 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 Live Oak, 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 Live Oak, 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 Live Oak, 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.
Fortunately, you have some options in Live Oak, Texas. First of all, you should attempt to contact the creditor directly, and see if something can be worked out. If this doesn't work, you can demand that the collection agency stop contacting you by phone. When this happens, they are not permitted to contact you further. This, of course, doesn't make the debt go away, but if the calls are becoming unbearable, it might buy you a little bit of time. Usually, when this happens, the creditor gives up on extra-judicial collections, and files a lawsuit against the debtor.
If you have retained the services of a Live Oak, 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 Live Oak, Texas Collections Attorney Help?
If you think that a collection agency is engaging in unlawful tactics, you should call a local Live Oak, Texas attorney, as you might have a claim for damages against the creditor or the collection agency.
If you are thinking about applying for bankruptcy, a seasoned lawyer in Texas can help you with that process, too.