Negotiating / Settlement Timeframe??
I will be 5 months delinquent later this month (Feb '11) on 6 credit cards totaling roughly $44,000. My master plan of saving for negotiating for settlements has not gone well. I am nowhere close to where I need to be. My question (for those with a crystal ball), how long can I drag this out allowing me more time to save? What should I expect? When I do have enough, should I pick one of the smaller ones and begin talks?Currently two of the six are in the hands of collections agencies. I can provide more details if that helps.