Having to collect from your company's debtors in West Palm Beach is no easy task. Doing so forces you to walk the delicate line between being assertive yet not completely destroying the potential for a continued business relationship. Yet ultimately, the need to collect what is owed to support your company's operations may require added effort on your part. When that is needed, debtors may be quick to claim your actions qualify as harassment, and thus are in violations of their rights under The Fair Debt Collection Practices Act. Is this true?
Often, people hear about debt from the perspective of someone who has borrowed more than they can ever afford to pay back. Write-ups and opinion pieces often focus on the challenges that debtors face, but it is important to draw attention to this issue from the perspective of creditors as well. Regrettably, delinquent borrowers have cost many creditors a staggering amount of money and the consequences of these debts can be overwhelming. In West Palm Beach and all over the state of Florida, creditors should go over their options and do what they can to recover debts.
Once a debtor files for bankruptcy, the court places an automatic stay that prohibits creditors from taking further collection actions. However, some creditors do not always heed the automatic stay. Usually, this is not deliberate; it is simply because the creditor does not realize that the court has placed a stay.