It is possible to get an out-of-court settlement for a credit card. Credit card companies and collection agencies offer a variety of payment and settlement options for the debtor.
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For one to get a credit card settlement, you would need to be far enough late in your payments for your credit card to consider settlement. If you are late, you would call and make an offer.
A credit counselor may be able to help you get a debt settlement on your credit card. It will depend on if the counselor only gives you ways to get out of debt or if they are a settlement counselor.
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You should get a hold of a debt consolidator who will then go to bat for you with your credit card companies. They will work out a settlement that can be agreed upon by both the credit card company and yourself.
You need to get in contact with your credit card company and make an agreement on how you are going to pay back your debts. The cost to doing a credits card debt settlement is that you end up with a very bad credit score.