You may be in a circumstance where you owe a debt but you are not able to file for bankruptcy.  In such circumstances, it will benefit you to attempt to negotiate the debt with the creditor.

Settling your debt allows you to pay a lump sum that is typically less than the full amount owed on the debt with the creditor forgiving the remaining balance.  Debt settlement is about negotiating how much and how soon you can pay. Factors, such as the nature of the debt, the debt collectors’ actions, your age and occupation, could all play a role in negotiating your debts.