here in America what are the chances my combined 4200 dollar credit card debt will die with this country? The debt is owned by 2 small debt collection companies so if there is further economic decline I am banking that the companies will go under and other debt companies wont want to buy their accounts as they are struggling with their own portfolios. When this happens does debt simply get written off? Or should I just file for bankruptcy now to be sure because I figure if America declines into a depression I am going to be poor regardless of whether I have a bankruptcy or not.