17k charged off, need advice!

My life recently changed for the worst. I have too may bills, high mortgage, car payment is high and and could I not pay by BoA credit card. Basically I'm living paycheck to paycheck. The account has now been charged off and it's with a company called Capital Management Services. I just did my income taxes and I am going to be getting back like 3k in return. Should I try to negotiate a debt settlement and offer 3k to this company? I feel like I won't be able to save much money since everything is tight. Also how long do companies like these take before they sue you? Is there anyway to prevent a company from garnishing the money or taking it from your bank or oay check. For instance I heard if you have a joint bank account with your spouse and if the account has exemption for tenants by entireties, they are not allowed to garnish the money. I'm just trying to make sure I can continue paying my mortgage and car which are my priorities.