A friend recently brought her Nokia Lumia 520 to me,complaining that she could not set one of the songs she had on her phone as a ringtone,I symphathised with her because even though the default ringtones that come pre-installed on the phone are not too bad,there comes a time when you start getting the urge to tinker a bit by way of changing your ringtone to something else like your favourite song to make it a bit more personal.This does present a slight problem though, like in my friend's case because there is no default setting for doing that on the Lumia 520,so i went online to find an answer as to how to go about doing that,and one website mentioned that all you had to do was to use a computer to copy the song you want and then paste it into the ringtone folder on the phone,so I did that but there was still a problem.
The problem was that I was copying the song from the music folder on the phone straight to the ringtone folder,after which according to the website you had to disconnect the usb cable from the phone and then switch the phone off then on again,go to settings,ringtone +sounds,ringtone on the phone where under a new custom folder you would find the song you had pasted onto the ringtone folder earlier,however I could not find the custom folder.
The workaround for this was to copy the song onto the pc and then on to the ringtone folder on the Lumia 520 and that was it! I hope this works for you too.