Age of Debt?

After the first 60-120 days the debt will jump to a third party collections or debt collector - you'll receive good settlements there. As time goes by and no payments are made, the debt will be bought and sold several times - which typically means better settlements. As far as being sued, can happen at any time - if the creditor holding the debt feels it will be worth the expense to file the legal paperwork, they will.

I've asked this question too, but I don't think there's a real answer. It appears to be something that will vary lender to lender, and may also depend upon why you are unable to pay.

However, my sense is that there is a pretty big waive of credit card delinquencies coming, which the post-holiday payments now becoming due (even with the holiday sales being low). And with financial institutions needed to be proped up by the federal government to stay in business, I'm thinking they'll look more favorably at settlements and may overlook recent debts just to get some cash back. That may be accelerated if Q109 continues to slide downhill. Just my speculation (and hope since I'm looking to settle as well, if possible).