It’s tempting to paint debt collectors as evil monsters out to ruin lives and to be fair, some of their actions aren’t particularly admirable, but it’s vital to remember that no one is compelled to borrow money. A debt collector is merely attempting to recoup what is due to your creditors, who have a legal right to their money.
We will outline everything you need to know about collection law as a debt collector in Louisiana.
Collection of Debt Laws
Here are some things debt collectors should note when addressing debtors in Louisiana.
The Louisiana Fair Debt Collection Practices Act forbids creditors and debt collectors from contacting third parties about a debt if they do not share a household with the live creditor and have not waived this or other banned conduct. If the creditor does so without discussing the alleged debt, they can contact the third-party regarding information about the individual who owns the loans.
If a debtor has entered default and has given the debt collector explicit notice in writing by certified mail, the debt collector must limit postal communications to one message per month.
As long as your actions as a debt collector are not intended to threaten illegal action, you can conduct additional legal litigation. You can also make up to four personal contacts with the debtor to settle the debt.
The Louisiana Fair Debt Collection Practices Act does not forbid the debt collector from getting in touch with anyone to learn more about potential assets that could be seized to pay off a debt after a judgment. Amicable demands and lawsuits can be filed to get a fair hearing between you and the debtors. You can also connect with other companies’ nested parties if the debtor consents.
Lawsuits Against Debt Collectors
Being a debt collector is a tough job. You are always dealing with one lawsuit or another; debtors are always trying to buy more time or get their debts waived by framing you for misconduct.
Hire the best legal representation to protect your reputation and business when accused of treating a debtor unfairly. The attorneys at Cornish Law LLC are well-versed in the workings of Louisiana State Law. We know best how to guard your interest and serve justice to both parties accordingly.
As a debt collector, you’re swamped with calls and emails to sort through. We minimize stress by giving you the competent legal representation you need. You may also be the one to file a lawsuit against the debtor. If that is the case, our attorneys will help you draft and present the limitations you have faced during the collection process.
Debt collection conflicts frequently result in arbitration sessions, which shorten the time dedicated to legal court proceedings. You should contact our legal experts to help navigate your situation when you are entangled in debtors’ and collection cases. We are ready to stand by your side.