There is no guarantee that the debt settlement company will be able to reach a successful agreement with the borrower`s creditors. According to the Credit Counselling Society, the success rate of for-profit debt settlement companies is less than 10%. How much you can afford to pay in your statement, after an honest review of your budget. Make sure you don`t spend too much on your settlement, especially on a structured settlement, as not pursuing an agreement now makes it much more difficult to make a new settlement for the same debt afterwards. A debt settlement agreement is a contract signed between a creditor and a debtor to renegotiate a debt or make compromises. This is usually the case when a person wants to make a final payment for a debt due. .