My credit card is 75 days past due and my bank is threatening to close my account.?

Yes they can close your account. If you want you can pay them off if you have the money........or if this is the only credit card you have delinquent, wait till five months past due. They will be very apt to settle for probably about 1/2 of what you owe and accept it as payment in full. If you have alot of credit cards past due, they may go down lower. They sell debt now, so most likely every six months they will sell your account to another collection agency, you'll be hearing from diffrnt agencies for years. Negotiate, between 4-5 months, or pay now. Settlement 90% as good as paid in full. Maybe 95%, the credit industry, credit cards are open to settlements rather than charge off a debt, and reporting as delinquent is not usually till the 3rd month delinquent. Most people don't know about settlements, and a whole new industry has arisen, mostly shady, some are ok run by attorneys, but a 3rd party managing your debt, or making settlements for you is unnessary, you can negotiate settle ... more