Many considerations come to light when you are weighing your options to get out of debt.
If you lose a civil case and are ordered to pay money to the winning side, you become a judgment debtor. The court will not collect the money for your creditor, but if you do not pay voluntarily, the creditor (the person you owe money to) can use different enforcement tools to get you to pay the judgment.
You should pay the judgment against you as soon as it becomes final. If you do not pay, the creditor can start collecting the judgment right away as long as:
The judgment has been entered. You can go to the court clerk’s office and check the court’s records to confirm that the judgment has been entered; and
There is no stay (suspension or postponement) on enforcement of the order because of an appeal, a stay from a bankruptcy, or other legal action.
The judgment creditor has different legal options available to collect the judgment from you if you do not pay on your own. In response, you may also have options if these tools cause you an undue hardship.
Consider hiring an attorney to negotiate a judgment instead of filing for bankrupcty.