I can say this: It is true that if the company has not been in the industry for more than three years – don’t use them.

If they don’t require statements or an accurate accounting of your debt situation – don’t use them. If they use heavy sales tactics – don’t use them. There are many people trying to take advantage of others in this industry. If you can do the settlement yourself – great! If you need an advocate – be careful who you choose. I found lots of useful information at DebtGOTOGuy.com. This man has a blog with Q&A, and lots of information about debt settlement, bankruptcy and the cost of each, in both terms of financial layout and long term damage to credit scores. I recommend being entirely prepared with the knowledge of how credit works, and what will happen to your credit before you make any choice concerning your debt.