Collections
Debt collection refers to the process of pursuing payments of debts owed by individuals or businesses. Collection agencies are organizations that specialize in debt collection.
After a set period, lenders will send unpaid debts that you owe to a collection agency. You will then receive a form of contact from an agency until you pay your debts. Failure to do so will greatly affect your credit score.
A collection agency can sue you in more serious cases, and a court may place an order against you having your wages garnished or even placing a lien against your property.
What If Iām Wrongfully Sued?
If you feel the debt collection lawsuit is illegitimate, you can seek counsel to challenge the lawsuit.