| Yes, you are. Likely not much will come of it, aside from the fact that they will ruin your credit and likely try to obtain a judgement against you. Depending on your situation, you may want to talk to a Bankruptcy attorney. If you're truly in dire straits and you need to file for bankruptcy, it may absolve the debt depending on what type of bankruptcy you qualify for. If not, and you can pay the debt, then I'd contact the lender and work out a payment plan with them that you both can live with.
Good luck. | 
Linear Mode
