No. of Recommendations: 3
I see that others have offered plans and answered questions -

I have 45,000 in Credit Card (CC) debt. ...I will not have the means to pay it off. We had only a brief conservation and for the past 20years I have made all my payments on time and not used the card in the past 24 months.

A- What are my options?
B- What is the likely hood of the CC organizations doing a given suggestion.
C- What is the down side

A- sucking it up and paying it off
Offering a settlement

If you settle
C- your credit will be trashed and you will have to NOT live beyond your means
A/B - until you quit making payments, the CC companies won't negotiate with you AT.ALL.
You have to STOP paying for 3-6 months (and trash your credit) in order for them to pay attention.
At that time you no longer agree to anything on the phone- you request and conduct all exchanges IN WRITING.
You can offer to settle for about 20-30% of your total.
WHen you do that, the CC company will either want that amount all-at-once, or in a maximum of 4 payments.
If you are even ONE MINUTE late on those payments, all bets are off and you go right back to the original balance and at a terrifying interest rate.

all that- PLUS- you will get a 1099 for that year for the "forgiven" balance. Be prepared for the tax liability there.
(example- you settle your ~$45K balance for $20k, you will get a 1099 for $25k)

I am not encouraging these actions, just providing answers.

peace & options
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