Many people choose to use debt collection agencies to collect debts. However, there are three situations in which only a lawyer can help you collect your debt, and debt collection agencies are powerless to deal with debt disputes.
- Situation 1: The other party admits the debt but has no money to pay.
Because debt collection agencies are subject to many legal restrictions, their debt collection methods are very limited. Therefore, they will not provide you with strategies or arrange legally binding instalment orders for you.
- Situation 2: The other party does not acknowledge the debt.
If your debt has not been acknowledged by both parties, the debt collection agency cannot sue on your behalf, and only a lawyer can handle the debt dispute for you.
- Situation 3: The other party delays and causes the debt to expire.
If you do not collect the debt within the deadline, the debt will automatically expire. When the debt collection agency is unable to collect the debt for you, they will still refer the debt to a lawyer, and you will eventually miss the opportunity to collect the debt.
If you encounter any debt disputes, please contact Canaan Lawyers immediately. We are very happy to answer your legal questions about debt and provide you with professional and efficient strategies to protect your debt rights.
*Disclaimer: The above content is provided as general legal knowledge and should not be taken as specific advice for your individual situation. The law is complex, and we strongly recommend consulting professional legal advice. Canaan Lawyers shall not be held liable for any loss or damage caused by the information contained or omitted in the above content.