My daughter was an authorized user on two credit cards (Wells Fargo and BOA). When her and her husband split up and she lost her full time job, she ran the cards up to $23K. She has not been able to pay the minimum payments for over 6 months. I have had to do so, hoping that she would get a job to at least help out. The minimum payments are around $400 per month. I have just about ran out of savings, trying to keep the payments up. So far, they are not delinquent. I am 62 years old and on Social Security Disability. If I find myself unable to make the payments, can they garnish my Social Security check. I do own a home (jointly with my husband, who is not on the credit card as an authorized user). I have another daughter who is willing to loan me $10K if I can settle for that amount. I need a little guidance here, as to what kind of letter I need to send to the credit card companies in order to request a settlement. I actually called BOA and they said that my type of account was one that couldn't be settled. Is it because I am current on payments? Is there anyone out there that can offer me advice as to the steps I should take from here. I do not want to call a Debt Settlement Company, as I have already learned that most of them are crooked. Thanks.

Are the accounts in your name with her as an authorized user?

They can't garnish your SS retirement, but they could attach your bank accounts.

Its possible they won't agree to a settlement until the account is delinquent. There are reputable credit counseling firms. At this point, you would be better off dealing with one.