What happens if I choose to not use debt relief law?

If you choose not to use debt relief law in New York, you will be responsible for repaying your debt in the same way as before. This means that you have to make regular payments on time and in the full amount due to your creditors. Depending on the type of debt you have, your creditors may take legal action against you if you fail to make payments, which could include suing you for the amount due or garnishing your wages. Additionally, your credit score will be damaged due to your lack of debt repayment. It is important to note that debt relief law is designed to help individuals become debt-free more quickly and efficiently than if they were to continue to make the payments as usual. This is because debt relief law can provide debtors with a lower interest rate or a reduced payment amount. In addition, a successful debt relief law plan in New York could result in the elimination of late payment penalties or the total elimination of all or part of the debt. If you choose not to take advantage of debt relief law, it is important to create a budget and manage your finances responsibly. This could involve cutting expenses, finding ways to increase your income, and making regular payments on time. Additionally, avoid taking on any new debt and work to pay off your current debt before considering new purchases.

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What happens if I choose to not use debt relief law?

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