Freelance Contract Dispute — client won't pay for completed work

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Illustrative scenario prepared by my practice.
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Hypothetical question

Yeah has anyone dealt with something like this? I'm not sure what my options are.

client won't pay for completed work. I've been dealing with this for about 15 weeks now and the situation isn't improving.

The contract was signed 21 months ago. I have a copy of the original agreement. The total amount in dispute is approximately $48,000 sadly.

What's the typical outcome in situations like this?