Debt relief

7 yrs is wrong! 7 yrs is for bankruptcy maybe, not cc settlement.
Your credit score will be tank for awhile, more around 2 yrs, it's the price you pay. Try to comfort yourself by telling yourself you are now debt free and will get a second chance.
Don't blow it!
You can recover sooner after you settle if you have a close family member who has good credit to add you to their card. You do not need to ever charge a thing, or even carry their card.
You will piggyback on their good card.
In a short time your credit will be perfect again, as it gets better apply for your own card.
But don't get in this mess again!
Once your score is good have them remove you from their card, (may drop your points a little). Then Thank them and move on!

it will take 7 year to get off your report how ever you can restore your credit at any time by being on time with the rest of the payments that you are not including with that company the rep would be right in saying that you accounts need to go late because until your account is not late you cant receive a good settlement on that account and even if you do it on your own even then your account will need to be late in order to get good settlement offer at least 60 to 90 days before the creditors woould like to speak to you about a settlement.