"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 Watertown, Wisconsin, there are various laws which severely limit the practices that collections agencies can engage in.
What if I Am Owed Money in Watertown, 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.
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 substantial, you might also want to hire a collection agency in Watertown, Wisconsin. You should make sure that any agency you hire is trustworthy, and has not been cited for violations of the rules governing collections.
What if Someone Is Trying to Collect Money Against Me in Watertown, 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.
Your best option in Watertown, Wisconsin 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 typically 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 usually leaves them with no other option but to sue.
If you have retained a Watertown, Wisconsin attorney during this process, they might advise that the best course of action is to apply for bankruptcy. This is a major decision, however, and should not be made easily. You should only apply for bankruptcy if an attorney advises you that it is a viable possible option, given your individual circumstances.
How Can a Watertown, Wisconsin Collections Attorney Help?
If you believe that the collections agency is engaging in unlawful or abusive activity, you should consult with a local attorney in Watertown, Wisconsin, as you may actually have a claim for damages against the collection agency.
If you are thinking about applying for bankruptcy, a seasoned lawyer in Wisconsin can help you with that process, too.