debt settlement

Several cards are offering me settlements

Several cards are offering me settlements that are 50% or even less of the total amount. Some of the creditors will let me pay that over a period of 6 months. I’d like to do it. But it will still be more than I can afford to pay each month. I’ve been thinking I need to file bankruptcy. Should I try to pay off using these settlements, even if I know it’s a big stretch for me to try to do so?

I don’t have any money that the creditors can really sue for or come after. I think they know it. So, it might be fine to draw this out over a long time and try to pay back. I’ve defaulted on 3 cards, but not on 2 others. I was going to let those other 2 default and file BK. But it’s so hard to make that decision to file BK.

If I file BK it’ll all be over sooner (3 months, as opposed to at least 6 to pay off creditors) and I can get started on a better credit rating sooner. But it’s very tempting to just try to pay off debts and be good.

Any advice?

How late are you with the cards and they with CC companies? pull you credit history see the statue of limitations on all the cards and then look up for your state the statue of limitations in your state. depending on your credit report you might be already in charge off.