Regarding credit card debt.
The other question is if at this point I was able to make an offer to settle this debt what could I reasonably expect to be able pay? 25,50, percent etc?
2 attorney answers
Given the facts you have presented, it sounds like a bankruptcy might be a good option. Schedule a bankruptcy consultation with an attorney in your area so that you can put this behind you for your retirement.
The above response is general information ONLY and is not legal advice, does not form an attorney-client relationship, and should NOT be relied upon to take or refrain from taking any action. I am not your attorney. You should seek the advice of competent counsel before taking any action related to your inquiry.
"How would I pay for this debt if settled by court via payroll garnishment?"
I don't understand this question. Keep in mind that the creditor must obtain a judgment against you BEFORE they can garnish. Assuming a judgment is obtained, creditors would seek to garnish not only income, but also tax returns and bank accounts.
"If I was able to make an offer to settle . . what could I expect to pay"?
The answer to this questions depends on the creditor, the age of the debt, how aggressive their lawyer is, if you have any technical or factual defenses, and potentially whether you have a financial hardship.
I suggest you consult with a consumer protection lawyer to review your legal options.
And. . . DON'T DEFAULT!!!!!!!!
Whether you hire a lawyer or not, you must file an Answer or settle the matter before a default is entered.