VirginMoney.com could turn daughter's debt into win-win

Patti from Malden, Mass., who watches my weekly "Ask Jennifer" segment on NECN's Business Day program, e-mailed a question that touches a theme I often hear:

"I recently came into some money from a car accident -- not much, but I would love to help my daughter pay off her credit card. Her debt is currently $7,600 and I could pay approximately $5,000 toward her bill. My question is, can I (or she) offer her credit company a payment of $5,000 to pay it off in full, and what is the correct way, if possible, to do this?