Major objective of this article is to discuss on Debt Settlement Procedure. Debt settlement, also known as debts arbitration, debt negotiation or perhaps credit settlement, is a procedure for debt reduction in that the debtor and creditor acknowledge a reduced balance that is to be regarded as payment in full. Debt settlement also referred as credit settlement or credit card debt negotiation is a process regarding debt reduction, where in the debtor in addition to the creditor agrees to decrease or forgive some percentage from the total account balance. In this process, negotiation is done involving the creditor and the borrower and both parties acknowledge a reduced credit balance. Here also discuss importance of Debt management attorney.