Debt Elimination Help – Choosing the Best Option to Eliminate Debt

Worried about how to eliminate debt! There are ways by which you can get debt elimination help that will relieve you from the troubles you are having in paying back your debt. You do not have to spend lots of money for this. What you need is strong will power and a can-do attitude. Log on to your computer and connect to the Internet and find out through search engines about debt settlement companies which offer debt elimination help.


There are many debt management companies that can prepare for you an easy solution to ease your woes. There will be non-profit companies as well as businesses which offer debt elimination help. So, how do you go about choosing the best option/service for eliminating debt?

Don’t fall for false promises

The first step for you will be to find out a legitimate and effective agency which can work out a suitable solution to eliminate debt. Companies may be claiming 100 per cent debt relief but you should not get carried away by such false promises.

Check the credibility of the debt elimination service/agency

The best way is to find an agency through references. If you come across a consumer who had availed the debt elimination help, ask him/her directly before you opt for the services. You can also go through yellow pages to know about the debt management services which can offer you a debt elimination help. There is also Better Business Bureau through whom you can find whether the agency you are selecting is registered or not.

Contacting the debt management/elimination services

You can reach out to the debt management companies over phone or via e-mail. It is better to first make a call if they are in your city. Collect the contact number/email id from the website of the company or the concerned counselor and talk to them about your problem and the services you are looking for. You should present your situation properly so that you get an effective debt elimination solution.

Check the fee for debt elimination help

You should check what the fees will be for debt elimination help. Some companies may charge large amounts for debt elimination help. So, before you seek the help of any company, you may compare the charges of some debt counseling services. Go for the one which will be effective and come at a minimum cost. There are also non-profit organizations that offer debt elimination help without any charge. Certain debt unions, housing authorities, universities, military bases and the US Co-operative Extension Service branches also offer debt elimination help.

Choosing the best debt elimination solution

After you get the reply from the debt elimination services, analyze the debt elimination solutions offered by them. There might be several solutions that talk about debt consolidation, debt negotiation, lower interest rates, quick fix solutions, long-term solutions, etc. Here are the various types of solutions that might be offered to you for debt elimination:

  • In debt consolidation, all your loans will be consolidated into one large loan through a new lender or through one of the present creditors.
  • In debt negotiation, the debt management company or a debt settlement/elimination firm will negotiate with the lenders to reduce your debt (waive off a part of your debt and pay off the remaining through easy monthly installments).
  • The debt settlement firm could also negotiate for new rates and lower rates will reduce your monthly payment.
  • By extending the debt period also, you can lower the debt burden, but the interest rate may climb in this case.

So, look at the pros and cons before taking the debt elimination help. You need to analyze what will be effective for you. Also, analyze whether there is any merit in going for bankruptcy, which might be one of the options presented to you.

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