If you settle with a creditor, payday lender, or a debt collection agency, then it should be clear and stated in writing, so that they later do not try to collect the rest of the debt. Please check out my links, below, the first is a legal guide on Avvo to settlement terms #3 and the other is my settlement pitfalls to avoid.
Robert Stempler (please see DISCLAIMER below)
NOTICE: The above statements are provided for general information purposes only and are not intended as legal advice or advice of any sort for a specific case or legal matter. If you do not have a signed attorney-client fee agreement with the Consumer Law Office of Robert Stempler, APC ("the Firm"), then until such written fee agreement is provided and signed by both a prospective client and attorney for a particular case, neither Mr. Stempler nor the Firm will represent you nor will they be your attorney in any matter and you remain responsible for retaining your own attorney and for compliance with any and all deadlines and for any statutes of limitations that may pertain to potential claims. Comments made on a public forum, such as Avvo.com, to not have any confidentiality because others may read them. If you desire a private consultation with Mr. Stempler that is confidential, please go to www.StopCollectionLawsuits.com and submit a free eCase Review. The result portrayed for a client was dependent on the facts of that case. Results will differ if based on different facts. The Firm and Mr. Stempler are a debt relief agency. The Firm and Mr. Stempler help people file for bankruptcy relief under the Bankruptcy Code.
Be careful with "debt relief" companies. Make sure you understand what they can and can't do for you.
If you are talking about a "debt settlement" plan, the creditors CAN sue you until a settlement is reached (if ever). If you are talking about a consumer credit counseling program (which would be odd, as they only work with credit cards), assuming the creditor will work with the agency, then you are okay.
I think you are about to spend money on a scam company that promises debt relief and you will end up worse off and getting sued.