However, when you inquire just how they plan to do that, most would answer with a shrug of the shoulders. If you wish to truly get rid of your debt, the first step to take would be to plan. You need to come up with a good debt elimination program. If you wish to make your own debt elimination program, there are a lot of information sources out there for you to use. Do not be taken by the glitters of the special offers in stores. They will only lure you towards another set of debts. Keep track of your expenses. If you keep a record of your everyday expenses, you will see the progress of your debt too. If you are taken back to your senses, for sure you will be able to control your overly spending habits. Debt elimination can help you end this cycle. Debt elimination can make sure that you will enjoy the full benefit of your hard-earned money. Even if you try not to acquire new debts, there's always the matter of interest. Some people say that, "the principal hurts a lot, but it's the interest that will kill you. 1) List all of your debts in order from lowest to highest - This will help you see your goal clearly and allow you to plan. Listing all of your debts will allow you to evaluate them in an orderly manner and this will enable you to plan your debt reduction and elimination strategy clearly. 2) Pay the minimum balance on all debts regularly - Creditors often set a minimum balance that you have to pay regularly on your debt. You need not bring paper bills and coins when you shop or dine out. You simply have to swipe your credit card and presto! You have already paid to the cashier all your purchases. But then the real scenario is this while you are paying with the absence of the paper money at your hands, you are likewise incurring debts which you will need to pay. There are always these companies that tend to assure you that they will legally terminate your debt accounts. These promises are better said than done of course. Most of the ads posted to websites will appear to fight for the elimination of your debts for a fee of course but the truth to the matter is that they will charge the fee to your credit card account and they will likewise contest the legitimacy of that debt also.