My ex-son-in-law is suing my daughter and me for slander and emotional suffering. He wants about 150,000. We have no money or assets should we claim

Bankruptcy to protect our homes. There is almost no equity in them. Statute of limitations on slander is one year. Would that apply or does his claim of emotional suffering count as personal injury. We put nothing on social media and reported to immediate friends just the facts. He has had my daughter in court for five years and she is now under four separate pending cases about her children. We have spent all our money and charged more to fight these. Have no money left for lawyers now. In past five years have paid $70,000 and my daughter is in collections for 7,000 more which she can’t pay. He is seeking about $150,000