DMP or debt consolidation loan?

Hello all- I am trying to figure out which route to go. I owe about $25,000 in credit card debt (4 cards). I contacted BofA and they offered me 5% with $150 payments on my $8,000 with them. My largest debt creditor ($12,000) referred me to MMI. I called MMI today and they have an estimate of about $500/month for 4.5 yrs. I have been reading through what they sent me and it says some companies don't offer concessions for 4 months... I have also read so many mixed reviews of this service that my head is spinning! My other option is that my mom will co-sign a debt consolidation loan through the bank- prob. Wells Fargo. The interest rate would be higher I'm sure, and thus the payment. What are the pros and cons of these two options?

if your mom really will sign a debt consol loan with you it does a couple things, provided you NEVER use a credit card outside of an emergency again, 1)it will save your credit score and possibly improve it, 2)it will show good credit history on the accounts for the credit cards (assuming they are still good) and I would close all but 1 of them and the one card you keep open (lowest interest rate IMPO) I would fill up an old tupperware container with water and freeze it with the card in it so that it takes time to get at the card but it doesn't take 7-10 days, 3)it is a closed end loan that you cannot charge more debt to, 4) your monthly payment is likely to be several hundred less than all 4 credit cards combined (25000@11.9% over 6 years is 487.46 a month) and 5) if you are paying 800 dollars or so a month now and you can get the loan rate I mentioned and took 600 dollars a month and paid it to that you would pay that loan off in 4 years and 5 months instead of 6 years all while still saving 200 dollars a month overall(I made a rough guess about payment amounts so your situation may be even better or not quite as good so you might have to tweak the numbers).

if you do DMP, 1) potentially hurt your credit score, 2) you have to close all accounts and it can be hard for a time after the DMP is done to get new ones except for secured card programs that can be costly, 3) the DMP will cost you something of the payment you make so it all doesn't go to creditors, 4) you must be very very careful which DMP company you go with.

To understand the pros and cons of both the options you may consult the 'do it yourself' section.

Thanks- I just sent a LONG list of questions to MMI after reading their proposal. I think I would feel more comfortable not dealing with the credit card companies at all and having one payment going to one place rather than one payment going to four places through a third party. I'm torn because I've read so many mixed reviews about DMP, but the monthly payment would be a bit lower possibly than a loan and the rates may be lower. I'm going to the bank to talk to them today although I don't know what can be done by them in terms of rates without my mom's info right away (she lives 300 miles away and will be going out of the country for 6 weeks leaving in one week- I need this done before she goes).