| If there is any way for you to pay them, even making small payments just do it even if they tell you that is not enough. If you make monthly payments 25, 50, 100 whatever and you go to court the judge will be in your side, you are doing what you can and those greedy bastards still suing you for more, you'll show to have the will to pay them back, if you also show in court some kind of hardship as a illness, lost job... the judge more likely will get you into a re-payment plan rater than dictate a judgment against you, payment plan is much better than judgment.
With a judgment what typically happens is that the bank take about 20% of your paycheck until the debt is paid or they put a lien in your assets, like your house
If you do not want to pay there is also ways to do it or at least give it a good try but I can't give you advise based in the very little info that you had provide | 
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