On June 15, 2009, the New York Times published the following article: "Credit Bailout: Issuers Slashing Card Balances".
"http://www.nytimes.com/2009/06/16/your-money/credit-and-debit-cards/16credit.html?ref=your-money"
In it, banks admit that they are willing - even more so now-a-days - to settle delinquent debt.