So should I contact the collection agency or their attorney to see if I can work out a payment plan, or contact the court.

I think that would depend on where your case is in the system according to the procedures that the credit card company uses to get their money. Depending on where yours is, it still might not be too late to call the people at the credit card company to make some kind of arrangements. I have done this a number of times now. Asked for and received lower interest rates and a payment plan that I can afford.

Each credit card company is different with their procedures, though. Do you know which level you are at according to the procedures that they use? Do you know, at this point, that your only recourse is to call either the collection agency or the attorney?

Have you been served with an original notice of suit or summons?

Did it indicate if you were to answer within a given amount of time, or did it give you a date for the trial or hearing?

Without any of the above having happened, you are only being threatened with the suit.

If you were contacted by a collection agency, the chances are the debt has already been transferred to them by the original creditor.

If the debt was sold, the agency probably only paid half of what the original balance was so you should keep that in mind when you attempt to negotiate a settlement, if you do.

You can try to negotiate with the agency or their attorney, especially if they have not filed the suit yet. There is also the possibility that they can't legally sue you depending on where you live.

If the suit has not been filed yet, you can buy some time by requesting in writing, mailed certified with return receipt requested, asking for validation of the debt, and proof that they have the legal right to collect it.