"Collections" refers to the practices engaged in by creditors designed to obtain payment from debtors who are not interested in paying what they owe. In Blacksburg, Virginia, there are various laws which severely limit the practices that collections agencies can engage in.
What if I Am Owed Money in Blacksburg, Virginia?
If someone owes you money and declines to pay it, you have many options at your disposal. However, when it comes to collecting their debts, creditors are governed by specific consumer protection rules. Violation of these rules while attempting to collect could hurt your chances at effectively recovering your money, and/or subject you to civil penalties.
As an example, when attempting to collect, creditors may not use abusive language, contact third parties regarding the debt, or use violence or threats of violence.
You may, however, send a written demand for timely payment which lays out to the debtor clearly how much is owed. If a large amount of money is owed to you, it might be a good idea to hire a collections agency in Blacksburg, Virginia. These agencies usually take their fee in the form of a percentage of the debt collected. You need to research agencies thoroughly however, and make sure the one you hire does not engage in illegal practices.
What if Someone Is Trying to Collect Money Against Me in Blacksburg, Virginia?
If you know that you owe the money being sought of you, and have the ability to pay it, you should do so - this is the fastest and surest way to end collections calls. Of course, this is not the case for everyone. Whatever your situation, you should always behave amicably 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 various options at your disposal in Blacksburg, Virginia. First, you should try to contact the creditor directly, and see if some sort of agreement 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 Blacksburg, Virginia attorney, they may advise that you declare bankruptcy, depending on your individual situation. In any case, you shouldn't consider bankruptcy before weighing other options, and discussing the matter with an attorney.
How Can a Blacksburg, Virginia 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 Blacksburg, Virginia attorney, since you might really have a claim for damages against the creditor.
If you are thinking about bankruptcy, a seasoned Virginia bankrutpcy attorney can help guide you through the process.