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Here's some more info about my situation: Between the two of us, my husband and I have about $75,000 in credit card debt. Our creditors are Bank of America, Barclays, Chase, Citi, and HSBC. We had a great payment history until recently. We had a drastic cut in income and kept up as long as we could, but we simply don't have the money to keep paying anymore. We're fortunate enough to have family willing to help us, but there's only so much they have available to lend us. So I'm hoping for settlements around the same amount as the ones I've been reading about here.

I would love any advice anyone wants to give. :D I'm a little nervous about this, but hoping to make it work.

Welcome! There is so much information on here. You can do this. It is natural to be scared in the beginning but for me the relief at the end is so worth it. I settled Discover at the end of 2010 and Chase, Citi and BofA in January 2011. All were close to charge off when we settled but they all averaged out to us paying about 30% of out balances. I think good settlements will still be found for awhile if people are willing to stick it out and do it. Good luck and feel free to ask questions anytime.

Thanks debtinthedistance! Sounds like you did a great job!

If You have any savings offset that against the credit card debt as any interest gained will be less than that paid on the cards, if you have anything you dont need sell it for a good price, cut back on anything you do not need for now, look for additional work and jobs at weekends at nights, sit tight and talk to the banks about some relief on payments

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