 TITLE: What to Do if You’re Sued by a Debt Collector CONTENT: 3\\. Consider Alternatives\n-------------------------\nIf you have no reason to dispute the lawsuit, consider some of your alternative options. If you can afford it, for instance, you may offer to settle the debt.\nDebt settlement involves paying less than what you owe on an account. Because debt collectors typically buy debt for pennies on the dollar, they're often open to a settlement. Even if they're confident they'll win the lawsuit, settlement can help the agency avoid costly court and attorney fees.\nIf your financial situation is dire, you may also consider filing for bankruptcy. While it's rarely ideal, bankruptcy can help you avoid paying the debt and making an already unmanageable situation worse. It could, however, have a devastating effect on your credit. END