"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 Bridgewater, Virginia, there are various laws which severely limit the practices that collections agencies can engage in.
What if I Am Owed Money in Bridgewater, Virginia?
If someone owes you money and declines to pay it, you have various 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 precisely 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 Bridgewater, 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 Bridgewater, Virginia?
If you know that you owe the money being sought of you, and have the capacity 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.
Luckily, you have some options in Bridgewater, Virginia. First of all, you should try to directly contact the creditor, and see if some altered payment plan can be worked out. If this doesn't work, you can ask the collectors to stop contacting you by phone, and they will typically be obliged to do so. Of course, this doesn't make the debt go away, but it may give you some time to collect yourself and prepare a legal defense. Once this happens, the collection agency can only contact you to inform you that it intends to sue you for the debt owed.
If you have retained the services of a Bridgewater, Virginia 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 Bridgewater, 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 Bridgewater, Virginia attorney, since you may actually have a claim for damages against the creditor.
Also, if you are considering bankruptcy as an option, a seasoned Virginia attorney can help guide you through the process.