The people saying they won't bother to sue don't understand how easy collection suits are--they will sue you over $1600. You have two choices--negotiate a settlement with them, or get sued. At this point, getting sued isn't as bad as you might think (though it is pretty bad) -- you probably don't want a lawyer yourself, and there isn't much you can do about your lawyer fees. Try to make an agreement with them so you don't hurt your credit any more than you already have.
If they have already sent you a summons, you have been sued. If they haven't yet, they could do so whenever they want--it sounds like they did you the courtesy of letting you know it will happen soon. If you ignore the suit, the court will decide in their favor and say that you owe the money, and issue a judgment. You should only fight in court if you don't owe the money--since that isn't you, you need to negotiate with the credit card company to allow you to make a payment you can afford to avoid or dismiss the suit.
If you can't reach an agreement with them you can afford, they will sue and get a judgment against you. (Even after they have the judgment, you can negotiate with them, but they can be less cooperative--they have done half the collection work.) Once they have the judgment, they can get a garnishment against your bank account or paycheck. You would need to be careful not to leave all your money in the bank, because the amount of the judgement could be frozen until you answer the garnishment, and they will take their money back from you. Also, you need to answer any garnishments you receive (and may need a lawyer for that) so that you can be sure that your exemptions for living expenses are allowed.
Regarding PP, don't go the bankruptcy route unless you have a lot more debt than $2000 on that one card--your credit will get better faster if you pay it off than declaring bankruptcy. That is a last resort.
Been on both ends of this--had credit card debt that got out of control, and I work in collections. It stinks but it doesn't take that long to dig your way out--hang in there.