You may be able to contact the bank and negotiate a reduced lump sum settlement of your credit balance to close out the entire account. (supermoney.com)
Alternatively, they're allowed to take 10 % of the debt for lump sum settlements. (hoyes.com)
As they have good relationships with creditors, law firms and collection agencies they can negotiate lump sum settlements or payment plans that work in your favor. (debtfirms.com)