One of the most dreaded issues facing a person that has amassed a great deal of debt is dealing with past due accounts. Often times, the owner of the account can and will work with a debtor who has gotten behind. However, when the account is significantly past due, or if the debtor hasn’t contacted the creditor concerning their past due account, many time the creditor will sell those accounts to a company that handles debt collections in St. Charles, MO.
There are those occasions where a person may run across cordial and professional debt collections in St. Charles, but this is often more the exception than the rule. The phone calls at all hours of the day as well as the sometime questionable manner in which many collection agencies communicate with clients can increase a persons stress levels. However, there are a few ways to get this process to halt.
One way to do it is to pay off the debt. Unfortunately, this isn’t always an option. A person can enter into a payment plan to gradually pay off the debt over time. However, if none of these options are viable from an affordability standpoint, then a person may need to consider bankruptcy. While it’s not something to go into lightly, it may be the only option left for some.
The great thing is that, as it relates to debt collections in St. Charles, MO, all collection efforts must stop once a person has filed for bankruptcy. The other good thing is that while it’s not uncommon for collectors to continue calling after they have been told not to, following a filing for bankruptcy, an individual can direct all collection calls to their lawyer. This means the lawyer will handle any communication with existing creditors. However, once a collector has been referred to an attorney, the calls typically stop.
As mentioned earlier, bankruptcy is something to give careful consideration to before making any concrete decisions. In order to get all the information you can on the bankruptcy process, and in order to find out if it is right for you, you’ll need legal advice. That’s why a visit to Website.com might be the best option. Speaking with a bankruptcy lawyer will give you an idea if this is right for you or if another approach to settling your debts is advisable.
