American Express did a review

You have two options, you could go through debt management and possibly get your interest reduced and favorable terms. If you are delinquent they will usually give you a hardship program after about 90 days. However, if you just want to settle the matter, sometimes between 120 days and 180 days late they will settle for 40-50% of the balance you owe them. You would have to find a way to come up with a lump sum settlement to pay them.

Go for debt consolidation...its a one loan to pay off many others. This is often done to secure a lower interest rate, secure a fixed interest rate or for the convenience of servicing only one loan.

I don`t believe a consolidation loan is the answer. If you can`t afford to pay them now why would you want to turn unsecured debt into secured debt. All thats doing is robbing peter to pay paul. It doesn`t fix the problem.If you are over extended I would suggest you consider looking into a debt settlement program. Be sure to look what ever company up on the BBB to make sure they are legit.