If, n the other hand, you turn down their offer, and it gets SOLD to another ca for collection, and you do any kind of settlement with THEM,it will be much more difficult to deal with, as THEY cannot legally give you a 1090C, (since they have not paid full price for your debt),and they will almost always resell the balance to another CA.
Here is where possible "re-aging" comes in. If you have signed a NEW contract to "settle" and THEY have agreed to it and signed, the BALANCE they sell to another CA would probably qualify as a NEW account with a new date from the settlement agreement date.

Now, as to what you should do-- If this is not your only debt, and if you are trying to getback on your feet after a job loss, or something like that, then BK is probably the best way to go if you get sued. Even though a judgment in Tx cannot garnish your wages, or lien your homestead, it DOES stay in effect for 10 years and will interfere with any refinancing or future home purchase, be a constant threat against your bank accounts,and hurt your credit just as badly, or perhaps worse than a BK.

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