<prompt> Human: I have 20 credit cards with about 26,000 in credit card debt. I probably have a few late payments in the last 3 years and a few means like 5. Minimum payments equals 1,015mo.This guy said his company puts me in their debt reconciliation program. They begin to write letters to the debtors to remove the late payments showing up on my credit history. In the mean time, I stop making payments on my credit cards, then when it gets to 120 days the credit card companies charge off my accounts, collect their insurance money from my negligence, then they bundle my accounts and sell them off to collection agencies for pennies on the dollar. Then when it gets to that points is when I will start to receive notices from collection agencies so then Im supposed to send those letters to his company they will then begin disputing the debts because legally they are not obligated to collect the debt. He said at the end of the program all of the debt collectors will have erased your debt and will no longer have dings on your credit report, and you will have excellent credit at the end of the program. The also provide an additional 2 years of service in the event some issues still remain on my credit which they will continue to fight. This debt reconciliation program has different charges depending on how long I want to pay. I think the monetary arrangements are close to: 12 months 850mo, 18 months 550, and 24 months 450. Has anyone else out there gone through one of these programs? What was your takeresults? If its this easy to rebuild your credit in less than 2 years instead of paying years and years of high interest rates, why arent more people doing this?Could use the advice. Thanks in advance.Edit: Just an FYI, I am in no way, unable to pay my debts. I am making payments monthly, but Ive stretched myself thin and looking for the best way to pay off debt or get rid of it without declaring bankruptcy.  <response>: Youre skipping the step where you get sued and end up with huge judgments against you, your wages garnished, and your bank accounts emptied. 