25K Chase Credit Chargeoff -- what to do?

Hi,

My Chase Credit card was charged off. Last payment was in July.

They called me today and gave me a few options: 25K over 24 months 17K over 12 months 15K over 3 months

They said I need to make a payment by September 7th or it gets handed over to a lawyer, the next step in their litigation process. They would not allow me to settle for less.

Is this just red tape, or is it possible to negotiate and settle for less?

I heard it generally goes to a collections agency first where you can settle for a much better rate, but seems like that step is getting skipled here.