To Settle or not to Settle?

[mklmkl]

I am approximately 6 weeks away from reaching my SOL for $8,500 unsecured CC debt (*cough* Amex *cough*) . So far, only one C.A. has filed suit.
I'd like to settle with them. I asked the C.A. to settle for 10%, "No". My next offer 40% 0r probably 30%... I got a "No" both times. Then the C.A. offered 60%.

I would settle for 20% to avoid filing Chapter 7 BK. I am judgement proof, however I may wish to rebuild my life (after I regain my health from a serious, no fault injury).

The date the court will grant the C.A. a Judgement is August 16th, 2016. Does anyone have advice for me to help me negotiate the C.A. down to 20%?
I have and will call daily/almost daily to ask to settle for 20%, remind the C.A. I am judgement proof, and continually ask the C.A. Rep. to bring his boss my offer of 20% to settle.

Any advice or additional suggestions to help me get the C.A. to settle for 20% would be greatly appreciated, Thank you!

[LadyInTheRed]

You may currently be collection proof, but you may not be forever. If the creditor has already filed a lawsuit and is going to get a judgement anyway, a 20% settlement isn't much incentive. If you already offered 40%, they aren't likely to accept less now. Sorry, but I have no suggestions for you, other than perhaps pay the 60%. But, I don't know enough about your overall situation to know if that is a good idea. In general, when people are to the point of weighing settlement against bankruptcy, settlement is not a certain enough option to be the better solution.

[mklmkl]

You may currently be collection proof, but you may not be forever. If the creditor has already filed a lawsuit and is going to get a judgement anyway, a 20% settlement isn't much incentive. If you already offered 40%, they aren't likely to accept less now. Sorry, but I have no suggestions for you, other than perhaps pay the 60%. But, I don't know enough about your overall situation to know if that is a good idea. In general, when people are to the point of weighing settlement against bankruptcy, settlement is not a certain enough option to be the better solution.

I knew you'd come along LITR Thanks!

Yes, I agree with most of what you say LITR.
Iwrote a longer response, then deleted it. I feel I should file Chapter 7.