Nevada Collections Law

Both federal and state governments in the United States have enacted laws to regulate the collection of debts. Debts are of two kinds, secured and unsecured. A secured debt is one where the borrower pledges his property as a security for his loan and on non-repayment of the loan the creditor will have a lien on the property. In the case of collection of an unsecured debt, for which no property is pledged as security, there arises a need for the creditor to hire the services of a collections agency or approach an experienced collections attorney to file a lawsuit.