Bank of America has turned over two credit cards for a total of $50,000 debt to Fred Hanna & Associates. I have received one phone call from them offering to settle for $20,000 in three payments. I cannot afford this, yet they are threatening to sue. Can anyone give me any insight into this firm, their collection tactics, and how I should proceed in negotiating a reasonable payment. How far will they go in negotiating since they have the upper hand? Thanks!