avenida, if you are going to do this on your own, quiktrade has some very valid points. NEVER, EVER make an offer in your first communication with E-Trade, or any other creditor for that matter. Basically find out who is the person at E-Trade handling your account. Fax them a letter and then overnight it to them basically explaining you have no hard assets, you are not working, etc, but it is your goal to reach an amicable solution and settlement on the amounts owed.
Then, after a week or so passes, offer them 8 cents on the dollar. Don't actually say 8 cents, but come up with a vague figure like $1587.24. They will think there is some reason for the strange offered amount. They will probably counter with something less than 92 cents on the dollar, and thus, you are already winning the negotiation. Be very stingy with your offers as you go north, only increasing them by pennies on the dollar. Explain to them each time an offer is raised that you found more money, someone from your family is helping you out, etc.
This is a starting point. I really believe if you do this on your own, you won't get very far. But atleast its worth a shot.
Then, after a week or so passes, offer them 8 cents on the dollar. Don't actually say 8 cents, but come up with a vague figure like $1587.24. They will think there is some reason for the strange offered amount. They will probably counter with something less than 92 cents on the dollar, and thus, you are already winning the negotiation. Be very stingy with your offers as you go north, only increasing them by pennies on the dollar. Explain to them each time an offer is raised that you found more money, someone from your family is helping you out, etc.
This is a starting point. I really believe if you do this on your own, you won't get very far. But atleast its worth a shot.