http://www.articlealley.com en-us editorial@articlealley.com The process of contacting creditors directly or through a third party and negotiating for a lump sum payoff of your debts is known as debt settlement. Benefits of debt settlement You can reduce your principal debt amount by around 40% to 60%. Elimi... http://sarahjones.articlealley.com/settle-your-debts-the-easy-way-12183.html 13th October 2005