"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 Hudson, Wisconsin, there are various laws which severely limit the practices that collections agencies can engage in.
What if I Am Owed Money in Hudson, 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. 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 Hudson, Wisconsin 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 Hudson, 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.
Fortunately, you have some options in Hudson, Wisconsin. 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 Hudson, Wisconsin 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 Hudson, Wisconsin Collections Attorney Help?
If you think that a collection agency is engaging in unlawful tactics, you should call a local Hudson, Wisconsin 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 Wisconsin attorney can help guide you through the process.