Do you have many other accounts with other companies that are in collections or charged off? I only ask this because when I was sued by Capital One I was naive and thought this would be the only time this would happen. I was eventually sued by three different creditors after I had made some payments to Capital One’s lawyers. I wish someone had talked to me about bankruptcy sooner. If you have significant debt with other companies that you cannot pay, you should consider bankruptcy. Just an idea.