Although they are rare, there are some cases where it may be advisable to do nothing in terms of addressing your debt. For example, if your sole source of income is Social Security – which cannot be garnished at all – you are judgment-proof. In that case, filing bankruptcy or taking other debt relief action would probably not be to your benefit.
Another example of where it might be advisable to do nothing about a debt is if you’re approaching the statute of limitations. In Colorado, the statute of limitations for collecting a debt is six years. If you’ve already made it five and a half years, you’re awfully close to being out of the woods, so you could consider taking no action. However, one thing to take into consideration is the stress that you’d be under while waiting for the statute of limitations to run out – for instance, the anxiety of knowing that it could be a process server whenever someone knocks at the door.
This being said, I would certainly recommend that you consult with a qualified attorney to determine whether your situation really is one where your best course of action is to do nothing.