Credit card debt settlement is a cost and it comes in the form of negative marks on your credit score. If you already missing payments, but this is unlikely to do further damage to the practical sense, because you will not find people who are willing to lend you money for overdue accounts – at least at a reasonable rate, however.

Credit card debt settlement companies have a number of priorities. The first is to produce a non-profit parent company and its shareholders. When it is obvious that some may not be able to pay their balance is a priority change, which takes place in such a way that can work to your advantage.

The main concern of a bank or credit card company is to get as much as possible the balance back to you as possible, and by closing or restricting your account. This way they can avoid downloading from the sum of their income, causing their stock to decline. Management may reduce the bonus, and thus the yield to shareholders will be reduced.

If you declare bankruptcy, it is possible that the entire balance will be wiped out because of unsecured credit card debt is known in most cases, and that means it is not supported by any particular security, only a promise to pay, and they do not longer able to get back into investments. This would be the worst scenario, the credit card company.
If you have missed several payments already, and your credit score is concerned, all it takes several calls to try to explain that you are seriously considering bankruptcy, but you want to avoid. Tell the creditor that you want to do good as much debt as you can, but you do not know if it is still possible.