I think it is pretty obvious that you need to stop the bleeding. 27% to 5.5% sounds like a pretty good deal to me.
You are thinking about the best case scenario wich would be if everything works out, you win the lotto and you are able to repay the debt, but at 27% on 33k i think you should think about the worst case scenario as well, that you could start beeing late on your payments and then your credit would take a serious hit anyway.
Beeing realistic i think you def should take the deal.
Take the deal. Otherwise you are looking BK straight in the face.
Agreed..But you do need to look at how you got to where you are and take a long hard look at things, and your relationship with money.
You may wish to seek the services of a licensed financial counseler, consider budget planning and making some other changes to your life.
The simple fact that you were late 3 times in 12 months on one major card, and do not consider that in itself a problem as "it was not reported to FICO"...I am sorry but shows me you have some serious budget needs.
BTW I have been late on Cap one and Chase 1 time each card in the last year. One was a changed due date, other was I simply forgot to set up the online bank payment.