Beneficial/hsbc is offering me a settlement of 10% of the 2nd loan, does this sound like a scam? Benfefical is being sued for racism, can it be a way to just get money?

Did you get the offer in writing ? Are you behind on the payments.
If they think that you are going to walk away from loans, often 10 percent is better than no percent.

Yes the offer is in writing and I am seven months late now. I did offer them 5% and they told me to call back on 2-24-10 to see if I have can get more money.