What happens if I miss a payment on a debt settlement?

If you miss a payment on a debt settlement in Pennsylvania, the debt settlement company may take legal action against you. This could include filing a lawsuit against you in court or having a collection agency contact you to get the payment. If you have a court hearing, you should make sure you attend the hearing and bring all necessary documents to prove that the debt settlement agreement was valid. In addition, the debt settlement company may decide to cancel the agreement, which means they will no longer be handling your debt. This will leave you responsible for making payments on the debt yourself. Depending on the amount of debt you owe, this could mean more payments over a longer period of time. In extreme cases, you may also face penalties such as wage garnishment or have your property seized. This is all dependent on the laws in Pennsylvania and the creditor’s agreement with the debt settlement company. If you find yourself in a situation where you are unable to make a payment on a debt settlement, you should contact the company as soon as possible. They may be able to work out an alternative arrangement with you. It is important to remember that the debt settlement company does not always have your best interests in mind, so make sure any agreement you enter in is fair.

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What happens if I miss a payment on a debt settlement?

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