[offsides]

More specifically, after you fail to run away, you MUST suffer the Bad Stuff immediately (barring a card played to alter the result of the failed roll, such as Loaded Die, or something else that allows automatic escape). You only die if the Bad Stuff says you do.

Additionally, you cannot simply "discard your stuff" - items are lost when a card tells you to lose them (such as a curse), when you sell, trade or have them stolen (not during combat), or when your dead body is looted.