how much will monthy payments be

You and me both. From what I have read it seems to be you stop making payments to create a hardship situation and spook your creditors. After about 4-6 months you start negotiating with them to get the prinicipal down to $.50 on the dollar or less. In the meantime, you save as much money as you can so you have some lump sums to send them.

My concern is that 4-6 months is not going to be long enough for me to put together the thousands I will need to offer a lump sum. Can someone tell me how what kind of structure credit card companies accept for the pay-off at that point? Back to monthly payments? Several lumps over a few months?

Also, I will likely negotiate with my biggest creditor first and try to strike a deal. BUT I have 4 other credit card companies that are going to be beating on me which I may not be able to offer anything to for as much as 12 months. What happens if I wait that long before negotiating with them?

help?!