Debt Help Advice
Before you take the plunge, consult a tax accountant about the tax implications of settlement. Also...it's important to settle your debts quickly to increase your chance of success. For that reason, you should talk to your debt collectors as soon as possible and ask for a repayment plan.
I think debt consolidation would be great for you. You can either seek professional help or you can pay off your bills by taking out a consolidation loan. Make sure the loan has better rate and term. Also, try to make monthly payments on your new loan. Thus, your credit score will not drop drastically. Debt Settlement will drop your score.