Credit card debt already in collections...?

I have about $5000 in credit card debt; it's been about 8 mths since I paid any on them. I was out of work due to an auto accident. I want to pay them so consolidation or bankruptcy is not an option for me. I just can't afford much. $50 extra a mth is all I can afford right now, but I don't know how to do this because I have 4 different credit cards & $50 doesn't split well. The agencies say they can't settle for less than $100 on each card....well I just can't do that as I am just now getting back to work.My question is this:since it's been so long since I paid on them anyways & they are already in collections do you think this woud be a good idea & if not then what would you suggest. I was thinking of listing all my credit cards with the balances & take the smallest balance & pay them $50 a month (more whenever possible) & once that one is paid off start with the next lowest one & repeat this untill they are all paid off. Will this work or is it a bad idea...what do you suggest?Thx