Negotiating a Credit Card Settlement

[Anonymous]

I have a Bank of america cc with a $15,000 balance on it and an HSBC  credit card with $16,000. I want to try to settle with the credit card companies for a sum. With these sums I will be in debt forever and just want to start fresh. I will settle for 50% of the balance but I cannot pay it in one lump sum. Has anyone ever negotiated with these banks before and are there payment plans and/or any reprecussions on your credit report from them? I appreciate all the help.

Thank You

[LuvsRetro]

Past experience on the Bank of America, they will do an agreement plan, usually at no interest for about 6 months just to get you to keep the account.  They are pretty flexible.  Or they were!!

Don't know about HSBC.