Absolutely not!! Honestly, it’s almost never too late to file bankruptcy. A debt that a creditor has filed a lawsuit against you regarding and even if they were granted a judgment against you can be eliminated in a bankruptcy. You can even get rid of the debt if they have a lien against your property (although the lien will remain against the property unless you are able to remove it during the bankruptcy process–contact us for more information on this option). The one caveat to this general statement is that you can not wipe out the judgment if the debt was incurred through fraud, or if it is a domestic support obligation, or if it is one of the others Congress has excluded from discharge.