How to approach debt settlement

First of all, register with the forum. Then start reading...there is lots of information on how to settle your debts.
What type of debts do you have??

Don’t hire a debt relief company, they will charge a heavy fee. It would be better for you to settle your debts on your own. Follow this link to know the steps of settling debts: debtconsolidationcare(dot)com/diy/index(dot)html#debt-settlement

I think it would be better to settle the debts of your own. You will have to talk to your creditors and request them to lower the oustanding debt amount owed by you. You however, will have to convince them that you are willing to pay the debt, but you do not have the affordability to make the payments as per the original terms. You can also send them a letter addressing the issue. But, remember to send the letter through CMRRR.

No creditor is going to settle a debt thru the mail...what marvelbecks is suggesting is a waste of time and money.

Do you have the money to settle your accounts?? If so, call them an offer a settlement. If they agree, have them fax you a settlement agreement.

If you have enough confidence with in you till end then you must go ahead. Only demerit to DIY is that sometime your creditors confused you. This is my personal experience. When I was in credit card debt, I also applied your strategy and try to negotiate with my creditors, but at the end there arouse some confusion in my mind. Thereafter I take the services of debt negotiation company and they negotiated on my behalf and the matter was settled with 30% debt waived off. I cleared my debt and my name was waived from debt file.