Best Solution $70K Credit Cards

If you are current and can afford the minimums payments you wouldn't want to do settlement. You would be more of a candidate for a debt management Plan. It is administered by a consumer credit counseling agency and will get you one payment each month but at much lower aprs. A dmp won`t hurt your fico score but will reflect on your credit report you are in a dmp program to protect people from getting any more unnecessary debt while trying to get out of debt. Once you complete the program it comes of your report as if you were never in it. When shopping around for a credit counseling agency make sure they are members of the BBB. Also make sure they are 501(c) 3 Non profit Organization and ISO Certified . In order for a credit counseling company to receive benefits such as reduced interest rates, waiving late fees, etc from the creditors, the agency must have its 501(c) 3 Non profit business license. If a company does not have this license, they are unable to receive the benefits for their clients.

You can call your credit card co. and ask to be put in fix payment plan where they can reduce your interest rate from 0% to 7% (term is usually 60 months). However, you will have to close your accounts.

I agree if you are current and you can pay more than the minimums, look into a dmp and mobile0311 gave you great advice on how to go about searching for an agency. I would first however tally up all your bills (and do a true cost analysis - include everything from lunches at work, movies, happy hour, nights out, church tithing, etc) and figure out what your outflow is. You may make $7700+ a month, but your expenses could total out to be $7700 or more. Once you figure that you, then you can appropriately come up with a plan of attack. If your income minus expenses is in the negative or zero, then check out all your options.