Also take a look at the top. If it’s bulging and the bridge looks slanted towards the sound hole, then that will cause high action as well at that point it might be the bracing that failed and it will be up to you if you want to repair it, or make it a campfire guitar...to feed the fire.
That’s the problem I have with my early 70’s Japanese 12 string. Some neck bow, but the real issue is that bulge on the top. Action is nearly unplayable past the 3rd fret.
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