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If you do not respond to the summons, a default may be entered against you. Alternatively you may consider negotiating a settlement for the debt or filing bankruptcy You may want to consider a chapter 7 bankruptcy. I will explain.A Chapter 7 bankruptcy could discharge (erase) all of your unsecured debt such as credit cards, judgments and personal loans. It would be an opportunity for a fresh financial start. You may have to surrender assets, if any, that exceed your exemption. However if everything you own is exempt, you should lose nothing but your debts. Here are the exemptions for Colorado:http://www.bankruptcyinformation.com/C0_exemp.htm
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