Debt Settlement and taxes?

My husband and I were in a debt settlement program. I am wondering if we’ll have to claim this on our taxes? I know we’ll have to claim it, but will we have to pay? This is what our debt program states on their website and what we were told by them:

Creditors are required to report canceled debts exceeding $ 600 to the IRS and you are supposed to report the same as income on your annual tax return. However, the IRS permits you to write off any “income” from canceled debts up to the amount by which you were “Insolvent” at the time. Therefore, unless you have a positive net worth, then you ordinarily will not be obligated to pay taxes on the forgiven amounts. Additionally, if you do not qualify as insolvent non principal amounts such as fees accumulated on the account may be deducted from the amount reported.

We’ve never had to pay but always received money back. Will this deduct from the money we should receive?

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