Legal Question in Credit and Debt Law in Pennsylvania

Your options, in a nutshell are:

(1) do nothing if you have only exempt assets (like Social Security), have no other at risk assets, are elderly and will never need credit again;

(2) file bankruptcy if this debt or this debt in combination with other dischargeable debts are well over $10,000;

(3) if you have valid defenses (like the statute of limitations), then get a lawyer who can draft an answer for you and get the case dismissed; or

(4) if none of these options applyl or appeal to you, then you need to think about resolving the debt at some point, whether now or somewhat later. Resolution can range from paying the full amount over time or settling in a lump sum or over a short term.

much will depend on the amount of the debt, what assets you have that are at risk, who the creditor and law firm are and whether you have funds to settle the debt for less.

If you are interested in resolving the debt in a non-litigation/non-bankruptcy context, I give free email consults and charge $50 for a phone consult. During the consult, I can review your situation and discuss asset protection and strategies for managing the situation. I can also assist in resolving debts for a reasonable fee. Please contact me at [email protected] if interested.