I agree with the one post that we are responsible for our debts. I don't believe in bankruptcy. I do believe in negotiating a lower rate and even 0% if I can get it. Since you have not paid anything on the card for a year, then I would negotiate a payment based on what the original balance was without interest or a lower interest. In your case it might be close to 50%.
Either way, I would NOT give my bank account. I WOULD get them to give you a written agreement and I would send a cashiers check and send it Certified Mail "Return Receipt". I would follow up and make them acknowledge receipt. I would also obtain from the bank a copy of the cancelled cashier's check for my records. If they wouldn't settle under those terms, then don't settle. Your credit is already affected and you can use your documentation that you tried to pay your debt when applying for a loan in the future. It probably won't help you much, but frankly if you can't pay your debts then I question whether you should get further loans in the future anyway.
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