What happens if a debt settlement is not completed on time?

If a debt settlement is not completed on time in Pennsylvania, the debtor can be sued for the full amount of the debt. The creditor or debt collector may also receive a court order to garnish the debtor’s wages or bank account until the debt is paid in full. The creditor may also be able to sue the debtor for legal fees, court costs, and interest. In some cases, the creditor or debt collector may attempt to collect the debt from the debtor even if the debt settlement is not completed in time. In this case, the debtor should contact the creditor to negotiate a lower payment amount or a longer payment plan. The debtor can also attempt to work out a payment plan directly with the creditor. In addition, if the debtor is unable to pay back the debt in full, they should contact an attorney to discuss other options. The attorney may be able to assist the debtor in negotiating a settlement or coming up with an alternate arrangement that will allow the debtor to reduce the amount they owe. In any case, it is important for the debtor to be honest and keep the creditor informed of any changes in their financial situation. By doing so, the debtor may be able to avoid costly court fees and judgments.

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What happens if a debt settlement is not completed on time?

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