I'M YOUNG...AND ALMOST IN DEBT...I'M THINKING ABOUT MAKING A SETTLEMENT OR HAVING MY CARDS REVOKED...IT'S ONLY TWO CARDS...DISCOVER & MBNA HOW NEGATIVE WOULD THAT BE

Very negative. If you decide to close your credit card accounts, make sure you tell the lender to state "closed at the request of the consumer" on your credit report.

The best thing to do would be to stop using the cards if you are getting in over your head and make regular monthly payments until they are paid off. Some day, you'll be glad you took steps to maintain positive credit.