I've got a total of $50k debt on 3 credit cards:
- Chase: $20k balance, 3 months delinquent.
- US Bank: $14k balance, 1 month delinquent.
- Navy Federal Credit Union: $16k balance, current.
If I can settle with the first two, I can probably afford to pay off the NFCU balance in 3-5 years. But since my credit score is going to get damaged anyway, should I go ahead and try to settle with NFCU too? It looks like a lot of people keep some credit card payments current while settling others. Why? What are the pros and cons?
I'd appreciate any & all thoughts....