I hear ads on the radio all the time for these debt consolidation services. Are they legit or is it hype?

I think they are legitimate but they don't help you for free. You have to be able to pay them along with your other bills. They also won't help you at all unless you have some kind of income and by that I mean a regular job. I guess they can help if you meet their criteria but if you are in deep financial trouble I doubt if they will even consider helping you.

These companies are out their to make money from you.  They work with your creditors to put you on a lower monthly amount and then the charge a monthly fee themselves.  If you miss one payment, the will drop you flat.

What do they charge (on average) for their monthly services. Does it really come out to much of a savings?