My question involves bankruptcy in the state of: CA

Hi, I owe over $130,000 in Loan and Credit cards. If I stop paying them will I we sued later on or is the debt gone go from the creditor to a collection agency and bounce around from one collection agency to the other?

I owe
$53K to Bank of America
$33K to Chase
$7k to American Express
$27K to Capital One (business loan, guaranteed by me)

The word out there is that unless you have something under your name, if I own any property etc, or you have done fraud it is not worth it for them to sue you.

I am trying to decide between banckuptcy and letting it ride for 7 years.

Thank you for your reply.