High interest credit card debit

Hello,

I have about 30k in unsecured debit including credit card and installment loans. The interest rates have been increased due to a debit to income ratio the creditors did not considering my fiance and I jointly pay the bills.

I have gotten two of the credit card companies to reduce by 50% interest which is still 17%. If this debit were a vehicle the payment would only be $600-$700 a month instead they are over $1200 seperatly and I can't get a debit consolidation loan without a house to secure the loan.

I am considering debit settlement with the full $10k availble from day one to pay off the debits. I have a company who has given me a payoff already. However I have been told this destories the credit rating worse than a late payment and it's just as bad as a bankruptcy.

I can't get a straight answer. The debit settlement companies obviously tell me you can rebuild in 6-12 months and better than before. Is it a sales pitch or not?

Any help would be appreicated.

Thanks
Al