Probably not.  If your creditors are calling frequently, the Debt Settlement company is happy to take those calls for you is an exchange for a fee much higher that you pay for bankruptcy. They can not prevent you from being sued or garnished, which bankruptcy will do. 

It may feel good to not be getting so many calls from your creditors, but every month that you are in a debt settlement program, your credit score goes down.   Your credit score with bankruptcy does take a one-time hit when you file, but almost immediately starts to rise as the bankruptcy filing date gets older.

In addition, in the very fine print, they tell you that any settlement may cause you to owe taxes.   Your creditors are required to file a 1099-C Cancellation of Debt Income with the IRS, and you will pay taxes on the canceled debt.  For example, you owe a credit card $3,500 and the Debt Settlement company reaches a settlement where you pay $2,000 to the credit card company.  $1500 in Cancellation of Debt Income gets added to your income for that tax year and your taxes increase for that reason.  Bankruptcy does not result in this fictional income and increased taxes for you.