To call or not to call...

You'll get both sets of opinions here. I'm assuming you want to try and settle this from your post correct?

I am in exactly same boat as you. And I mean EXACTLY same as I too have a BoA former MBNA gold option loan for very similar amount Ive just quit paying on. I asked same question as you recently as I've been talking to them periodically.

Some people here will say talk to them occasionally like every 30 days and repeat your hardship story and tell them you just cant pay. This keeps them from treating you as a "skip" and trying other means to locate you and possibly getting more urgent as to your account. The downside is that they get to "mess" with you. They keep digging for details and trying to get you signed up in a hardship plan. You have to be on your guard constantly and just keep reiterating you have no funds right now for X reason and cant pay. Not won. Cant.

Some people say just make one call at beginning if even that and tell them you are hard up and will contact them when you come up with a solution and then never talk to them again till settlement time is near (usually around 180 days)

I've talked to mine some since I made my last payment (about once a month or so. Some are nice. Some arent. None are happy with the "I cant pay right now" answer but I dont really give them any choice.

contact a couple of times a month is good. But if you pay anything, or if your story keeps changing you will have trouble settling later. They need to hear the same sad story each call. The only reason I would not ignore the calls totally is that I do not know what triggers them to sue.

Greetings and remembering my boa gold loan master.

They were intense in the beginning and then tapered off to about once every two weeks. Finally we got to the conversation at about 160 days or so and the magic word came up....."settlement".

They offered 30.1%.
I grabbed it and paid it off in 93 days with 4 payments.

Stick to you story.
If they don't call for 30 days, call them.

Don't let them update your account with a partial payment.
This resets the settlement clock.

And don't let them put you on the 5 year payout plan.
By December, January you'll be very close to settling, go for it.

Regards,
King "Kash" Jabba Labba