Hello I am a licensed attorney here to help you with your question, please review my response and do not hesitate to ask for clarification.
These type of companies are usually valid, but they are debt consolidation organizations.
They typically claim they can have individuals avoid bankruptcy by reducing your debt.
This is done, by them working out agreements with each creditor for 50% of their debt, and these companies will settle with them for that amount.
The way this is done, is something you can do yourself.
They have you pay them 50% of the credit card monthly payments for 6 months, and they fail to pay the creditors for 6 months.
After the 6 months periods, the credit card companies, know you have defaulted and will agree to settle the debt for 50% or less payment on principal.
The problem is your credit score will be hurt as you will not pay the credit cards for 3-6 months, and you will still have to pay for 3-5 years 50% of the debt.
A bankruptcy is a one time event and discharges all the debt at once.
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