Bankruptcy Law Questions? Ask a Bankruptcy Lawyer Now.
From a legal standpoint, it makes no difference whether you wait until after a judgment is obtained or before filing bankruptcy. You can either have the debt discharged or the judgment for the debt discharged. Either way, you'll be relieved of the debt.
If you were my client, I would suggest that you go ahead and file bankruptcy before a judgment is filed against you.
Yes, the entire claim will be discharged - principal, interest, collection fees, etc.
Your obligation to pay this debt is erased and you're not liable for the debt/it will not be a lien against your property after it is discharged.