90 days must be the magic number

[SCorpPain]

Yesterday, I got my first offer to settle a business LOC. The balance is close to 43K and they offered a settlement for 17K. I would be tempted to try to squeeze enough money out of the company -- that's a joke! -- to take advantage of that. However, there are several LOCs and CCs in that same dollar range, so it would not do that much good.

Are others getting settlement offers after being just 90 days late? I thought it would take longer than that.

[fireworks]

I started to see settlement offers around the same time. Citibank offered to settle for 40% of the balance. That would be a great deal if I had the cash.