He has not played a game for the Valiants this season, and desperately hopes he can return from a stomach-muscle injury.
The 28-year-old has been savagely hit by injuries since his £175,000 move from Glanford Park in 1998, having been temporarily paralysed by a spinal injury in March 2004 and battling against a cruciate knee ligament problem last season.
He said: "I won't be taking the settlement because I want to get fit. I will see what happens but if I this doesn't work then I would say that, yes, that's it.
"If it doesn't work I have no idea what I would do. I don't know much outside football as I have been in the game since I left school at 15.
"But I believe I have a chance of getting fit and I don't believe I have given it my best shot. There is no point Port Vale paying me up if they can still get something out of me, I do believe If I can get fit I can be a massive asset."
"It has been horrible and I think some fans think I am taking the mickey, though that is only a small minority. I want to come back and play football.
"I have always done my best for the club and was injured while playing for Vale. There are a lot of fans who have stuck by me and I want to thank them."