I understand your sentiment when you say you feel like the one being squeezed. Where is our bailout?
Anyway, to your question.
Your best move here is to try communicating with the creditors. Right now, a bird in the hand is worth two in the bush and they will likely be willing to work with you. Your not as delinquent as a lot of people and can probably negotiate a resolution involving electronic and automatic monthly payments at a reduced interest rate. If you can come up with a first payment of a couple hundred dollars on each cards and propose a monthly payment of $100 or more, then I'm willing to bet that you will be able to negotiate a resolution.
Your worst case scenario is that the creditor rejects settlement, sues, gets a judgment and attemps to garnish your wages and accounts. If you make efforts to settle now and are rejected, that would be something the court would want to know and that may help, should litigation happen.
I don't see your worst-case scenario materializing, though. Making an effort to communicate with the creditor and offering a resolution will go a long way. I handle commercial collections for a manufacturer and would welcome such a scenario so I could focus on the accounts that are still non-responsive.
Best of luck to you.
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