Debt Collection FAQs
Owens, Mixon & Heller knows that when you are trying to collect monies owed to you, there is no time to waste. But before we help you begin the process, there are a few things that you should know about debt collection, such as:
What are Arkansas debt collectors allowed to do when attempting to retrieve debts?
• Contact a debtor in regards to personal, family, and household debts, including money owed on credit cards, cars, medical bills, and mortgages.
• Contact the attorney or spouse of a debtor to discuss payment. (Third parties, such as other family members, friends, and colleagues may only be contacted in an effort to locate the debtor, not to discuss the debt.)
• Send a written validation notice five days after the initial contact, stating the amount of money owed.
• File a lawsuit against a debtor to collect any monies owed. If the lawsuit is successful, and the debtor still refuses to pay, a garnishment order can be requested. This may allow debt collectors to retrieve the monies from a third party, such as the employer or the bank of the debtor, in order to satisfy the debt.
What are Arkansas debt collectors not allowed to do when trying to reclaim their assets?
• Harass or abuse a debtor in their attempts at collection, by such acts as threatening the debtor with violence or other types of harm.
• Use profane language in any conversations with the debtor.
• Lie during the process of debt collection. For instance, creditors cannot tell debtors that they owe more money than they actually do.