Everything I have heard and read about these companies indicate
they are scams.
The only legitimate company is Consumer Credit Counseling Service.
This is funded via The United Way.
I would not worry about your credit score.I would concern myself
with getting debt free.

If it sounds too good to be true, it probably is

You should not trust a debt management company. Debt management companies are springing up everywhere. These companies help “manage” your debt by taking one monthly payment from you and distributing the money among your creditors, with whom they’ve often worked out lower payments and lower interest. This is not a loan as with debt consolidation. Sometimes people get the two confused. However, because Americans are up to their eyeballs in debt, the debt management business has become one of the fastest-growing industries today.

Companies like AmeriDebt and Consumer Credit Counseling Service can help you get better interest rates and lower payments, but at a price. When you use one of these companies and then try to get a Conventional, FHA, or VA loan, you will be treated the same as if you had filed Chapter 13 bankruptcy. Mortgage underwriting guidelines for traditional mortgages will consider your credit trashed, so don’t do it. Real debt help is found only in changing your behavior.

In short, debt management companies are out. Hard work is in. Change your financial behavior and change your life…for good. True debt management is about one thing – you controlling your money.

Real Debt Management
The good news is that there’s not some magical, mystical formula to good debt management. The solution is common sense and having a plan for your Total Money Makeover. Grandma’s simple way of handling money. Good debt management is 80% behavior and 20% head knowledge. It isn’t rocket science as some debt management companies try to make you believe.

Is it easy? No. In fact, it’s really hard most of the time. But it’s worth it. It’s amazing to see people change their lives through simple determination and having a plan that works…every time. Once you have a real debt management plan in place, its only a matter of time.

Advice or instructions to stop paying your creditors
Many debt settlement and debt negotiation companies tell you to stop paying your creditors. In the meantime, your accounts go to 30-, 60-, 90-, and even 120-days late. Each month that you miss a payment, your creditors report it to the credit bureaus. As a result, your credit score suffers. Don’t stop paying your credit card bills unless the debt management company starts sending in your payments immediately.
Non-profit agencies that charge high fees
You’ll come across many debt management companies that claim to operate under non-profit status and it’s possible that they do. However, some companies use this as a way of convincing you that their high fees are legitimate. There are companies that will assist you for a reasonably low fee.
Vague details about how your payments will be used
If you’re sending money to a debt management company every month, then you need to know what the money will be used for. If the company won’t give you this information, take your money and your business elsewhere.
The absence of a contract or written agreement
Don’t make a commitment with any debt management company based solely on a phone conversation. Request a written copy of the terms and conditions of the service before you agree and especially before you make any payments. If you don’t agree with the terms, try negotiating. If you can’t get reasonable terms in your favor, move on.
Promises to remove negative information from your credit history
No debt management company has the authority or the ability to change information on your credit report. Guarantees and promises to do this are completely false. All any debt management company can do is attempt to negotiate with your creditors to have negative information removed. This, you can do yourself.