Parents are close to 200k in debt and are struggling to pay off monthly minimum payments on their 33 credit cards. Is consolidating their debt through a "debt-settlement company" an option?

1. Do these debt-settlement companies (Greenlink Financial, LLC) damage anything besides your credit score?
2. Is there a better option?

Thanks so much.

Edit: Sorry for not clarifying, but they only owe 20k in credit card debt. The rest is in mortgage, student loans, auto loans, and medical bills. My dad is currently the only one working and he makes approximately 25k a year. I'll update if you need any more information.

Submitted January 17, 2018 at 06:11PM by WPotts2 http://ift.tt/2FNbtgx