Phones Answered 24 Hours A Day Call 800-653-2243
Thompson Law Group, P.C.
Experienced Lawyers on Your Side
Menu / Navigate
Secondary Nav

Dealing with a lawsuit over an outstanding debt

Falling into debt can be a scary and overwhelming experience. Many Pennsylvanians who carry debt understand the worry and frustration that come with not being able to achieve financial freedom on their own. In some cases, when debtors are unable to make their loan payments, they may even face lawsuits initiated by their creditors for the recovery of the owed sums.

A lawsuit is a legal method of seeking resolution to a legal problem. Many debt-based lawsuits develop from contracts; whether a person has an agreement with his credit card company, a bank, or another lending institution, that agreement likely outlines the expectations and responsibilities of the parties under the contract. There are provisions that explain details about the agreement, as well as provisions that stipulate what the parties may do when the other breaches the agreement.

The failure of a debtor to make payments on his loan is often sufficient to constitute a breach of the operating loan agreement. In such cases opposing parties may have different remedies, such as the reclamation of collateral, garnishment, and the use of liens to secure their money. As every lending agreement is different, readers of this post are asked to review their own contracts carefully and to consult with bankruptcy attorneys if they have questions about their own debt needs.

Litigation can be a lengthy process that can force a person to expend time and money that he may not have in order to get out from under an outstanding debt. In some cases it can be more effective for a debtor to proactively negotiate with a creditor to avoid a debt-based lawsuit. For others, personal bankruptcy may provide a useful service to allow them to manage all of their debts at once and to avoid the challenges of coping with loan and debt litigation.

No Comments

Leave a comment
Comment Information

Contact the Firm

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Warrendale Office
Main Office
125 Warrendale-Bayne Road
Suite 200
Warrendale, PA 15086

Toll Free: 800-653-2243
Map & Directions

Pittsburgh Office
DOWNTOWN PITTSBURGH
555 Grant Street Suite 331
Pittsburgh, PA 15219

Toll Free: 800-653-2243
Toll Free: 800-653-2243
Map & Directions

Greensburg Office
GREENSBURG OFFICE
101 North Main Street, Suite 104-A
Greensburg, PA 15601

Toll Free: 800-653-2243
Toll Free: 800-653-2243
Map & Directions

Canonsburg Office
Satellite Office
2400 Ansys Drive
Canonsburg, PA 15317

Toll Free: 800-653-2243
Map & Directions

Monroeville/Wilkins Township office
Satellite Office
400 Penn Center Boulevard
Suite 101
Pittsburgh, PA 15235

Toll Free: 800-653-2243
Map & Directions