Charge offs, which will stay on your credit report for 7 years, are very bad marks to have that have huge affects on your credit score. A charge off says to potential lenders "this person had debt they absolutely could not pay." This agency wants to basically let your accounts go delinquent to this point, and then negotiate with the lenders or collection agencies. On top of that, they want to charge you a ridiculous amount of money.
It's not too good to be true, it's almost too HORRIBLE to be true (but it is). You say yourself your bills are manageable. Why pay someone tens of thousands of dollars to manage what you already know you can yourself?
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