Advice: Get out of your debt sooner?

[SSSVX]

Like Earl always says, this is a family. So it'll be great if anyone has this kind of knowledge shares abit with me on the svx web family.

This is not the first time I received this type of letter. Well, I received a letter from a debt relief agency today. Basically, the letter says it will help you get out of your debt sooner and cut down your high interest rates alot. I gave a call to the 1-800 number. Basically, the agency will help you cut down your high interest rates alot and help your save money in your debt. It kind of sounds too good in everything......of course, they'll make your money in btwn from the % interest rate. The program is like ask you to stop doing payments on your credit cards and settle down to one payment to them from your account. Apparently, it sounds good and for example if you have ten thousands loan and it will help you cut down paying more than 60%.

My thoughts is what kind of drawback on this program? Well, how did they know I now have high balance loans on the cards? Is this a good program and not a scam that will harm you?

One thing I don't like is they will ask you to stop payments to your cards and you're forced to close your other accounts. Please share some advices if you have this type of knowledge. Thanks.