That is a good question.  During a consultation I can only answer that after reviewing all your Income, debts and assets.
-Bottom line is, if you have a lot of creditors to negotiate with, you risk settling with some of them and then get caught holding the bag with a few at the end.  Remember Musical Chairs or the Ed Sullivan show with the spinning plates?  It is kind of similar.
-If you do negotiate, usually a lump sum is what the creditor would prefer.
-It is important to know how it will be reported on your credit reports, Satisfied in full?  Partially paid?
-There is also debt forgiveness taxable as incometo investigate.  Many people are not aware of this.  Check with your accountant before settling debt.
To read more –

1099-C surprise: Canceled debt often taxable as income

https://www.creditcards.com/credit-card-news/forgiven-debt-1099C-income-tax-3513.php?utm_medium=email&utm_campaign=20180223%20Editorial%20newsletter&utm_content=20180223%20Editorial%20newsletter+CID_a0c5c439d472055e01940418a7ea996e&utm_source=email&utm_term=See%20the%20full%20story&aid=eml&email=campaign_name%5E20180223%20Editorial%20newsletter,campaign_id%5Ea0c5c439d472055e01940418a7ea996e,link_term%5ESee%20the%20full%20story