Broadly, the term "Collections" refers to the practice of creditors trying to force debtors to pay what they owe. There are various laws and regulations in Taylor, Texas that govern collection agencies, and strictly limit the types of tactics they are authorized to engage in.
What if I Am Owed Money in Taylor, 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.
Several practices that collectors cannot engage in include the use of abusive language, contacting third parties about the debt, and threatened or actual violence.
What you can do, however, is send an invoice of the debt to the debtor, along with a firm (but civil) demand for timely payment. If the debt is considerable, you might also want to hire a collection agency in Taylor, Texas. You should make sure that any agency you hire is dependable, and has not been cited for violations of the rules governing collections.
What if Someone Is Trying to Collect Money Against Me in Taylor, 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.
Your best option in Taylor, Texas might be to contact the creditor directly, and try to work out some type of new repayment plan. The earlier you do this, the more receptive to your ideas the creditor is likely to be. If this isn't successful, you can demand that the collectors stop contacting you by phone, and they will normally be obliged to do so. Of course, this doesn't make the debt go away, and you should only take this route if you are ready to defend against a lawsuit from your creditors, since demanding that they stop contacting you typically leaves them with no other option but to sue.
If you have hired a lawyer in Taylor, Texas, they might advise that you apply for bankruptcy. Of course, whether or not this is a good idea depends strongly on the facts of your individual case, so you should not do so unless an attorney has reviewed the facts and determined that bankruptcy is a feasible solution.
How Can a Taylor, Texas Collections Attorney Help?
If you think that a collection agency is engaging in illegal tactics, you should call a local Taylor, Texas attorney, as you might have a claim for damages against the creditor or the collection agency.
Also, if you are considering bankruptcy as an option, a seasoned Texas attorney can help guide you through the process.