There are several schools of thought regarding your questions. First, should you file now? that depends on how close you want to make the call. A judgement may be no big deal but how far behind will the wage garnishements be?(depending on if your state allows them). It also depends on how fast these companies move. Some threaten to take you to court and never do while others will move to do it as fast as possible. Courts cost money and many will take that step only as a last resort. I have been fending off phone calls and letter from three card companies for almost a year. Instead of taking me to court they just keep adding interest, late fees and phone calls, letters, etc. Regardless of what I have told them about my financial situation they continue. Perhaps they hope to get more out of me at judgement time?!? Who knows. Other companies don't take you to court for other reasons(fear of pushing you to BK and hoping you may eventually repay?!?)
The savings account question is another matter. The only way most creditors know of your financial situation past or present is mainly by the honor system(what you list in your BK petition). Of course if you have several thousand and go out and buy a yacht you have to list it. I would spend what's in your savings account on the attorney fee for your BK and take what's left and find a mattress to stuff it in, you never know when your bank may acquire one of your debts and sweep it's systems....you could wake up broke tomorrow!
