Should you settle your debt before or after a lawsuit is filed?

Timing can affect the settlement process, so you should know whether it's better to make an offer before or after a lawsuit is filed. William_Potter/Getty Images Rising credit card balances and stubbornly high interest rates are putting more borrowers in difficult positions right now. And, the economic landscape certainly isn't helping either, considering that prices are rapidly rising as debt totals grow and more borrowers face job losses and other hurdles. …