I've read a variety of strategies on timing on settlement discussions with credit cards. The common one seems to be to try after first late payment, and then try again after the next.
I have not had time to start the settlement discussion yet. Some of my cc bills are only 2 statements behind, though some are now 3+. To be honest, initially, I just tried paying off the smaller ones I could afford and then realized that I was hitting 0 and somehow contracts just were not coming in.
[For the most part, I have been trying my best to pay off ~6 digits worth of credit card debt incurred from trying to build my startup (foolishly, on personal credit cards). I've spent weeks in grueling full day interviews, only to find that the full time offers aren't worth what I can earn just doing contract work.]
When is the best time to begin the settlement discussion with credit cards (to avoid bankruptcy)? And how does timing affect the discussion?