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Remedies Available in Debt CollectionPosted by SEP-SOLO-IRA-401k-ROTH on: 2007-08-07 14:28:59 in category:
Retirement Planning [ Print | Permalink / 0 Comment(s) ] One of the hardest predicaments when it comes to discussions regarding money is the issue about debt collections. Problems concerning money loaned and the particular period of time when it should be paid has been considered as one of the more bloody and tedious causes of action in our present realm. Although it is merely considered as a civil action, still its intricacies and the fact of finding a way of obtaining a just and equitable resolution of the same has been considered as hard and would be comparable to any criminal cases of different nature. However, what is in debt collection that makes the subject matter as hard as it is? Why is it so taxing to have such a circumstance of obtaining money from another, which in the first place has been lent in good faith? The answer is obvious. The reason why debt collection is considered as one of the hardest cause of action in our realm today is that it is a form of deprivation of property. Money is a form of property, being as it is, the deprivation of the same without due process of law would be considered as deprivation of man's basic right to property that is enshrined in our Constitution. Logic dictates meanwhile that it would be unfair on the part of the person whose resource has been taken without proper and on time reparation. These antagonistic rights are actually, what makes the problem as hard as it may actually seem. The rights of a creditor and the obligations of the debtor are the primary reasons making this relationship complicated. Theorist and legal enthusiast adhere to the school of thought that in our present society, due process of law means giving what another party is actually due him. That would be considered as justice to its minute detail. Hence, since the creditor has initially been deprived of property, then it is but proper that he be given the fair chance of obtaining the same. Yet, notwithstanding this right that must be afforded to the creditor, still the debtor has rights that are protected by our laws. These rights need to be protected and should only be taken if there was compliance with due process of law. This is what makes debt collection what it is today, so delicate and tedious civil action. For more information about Debt Collections and other business law issues visit our Los Angeles Business Attorneys website |
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