"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 Chippewa Falls, Wisconsin, there are various laws which severely limit the practices that collections agencies can engage in.
What if I Am Owed Money in Chippewa Falls, Wisconsin?
If you are owed money and the debtor refuses to pay, you have some options at your disposal. However, you must tread lightly when it comes to collecting your debts. Creditors and collectors are governed by specific consumer protection laws. Violating these laws can hurt your chances of recovering what you are owed, and even subject you to civil or criminal 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 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 Chippewa Falls, Wisconsin. 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 Chippewa Falls, Wisconsin?
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.
However, you do have some options in Chippewa Falls, Wisconsin. First of all, you should make an effort to get in direct contact with the creditor, as opposed to the collection agency, and try to work something out. If this fails, you can tell the collections agency to cease calling you, and they normally are obliged to do so. Of course, this doesn't expunge the debt, but it can buy you some time. You should know, however, that when you show that you are not interested in dealing with the creditors or collectors directly, they will usually resort to a lawsuit.
If you have retained the services of a Chippewa Falls, Wisconsin 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 Chippewa Falls, Wisconsin 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 Chippewa Falls, Wisconsin attorney, since you may actually have a claim for damages against the creditor.
If you are thinking about bankruptcy, a seasoned Wisconsin bankrutpcy attorney can help guide you through the process.