Formulating a Good Debt Elimination Plan Debt elimination services do so much more than give advice how to pay off your debts. In fact, a debt elimination company today would help you by actually studying your case, talking with your creditors and formulating a good debt elimination plan. A debt elimination plan will involve a payment system that would not be a burden to you. What most people do today is use all of their money to pay off their past debts and then rely on their credit cards to meet their present needs. This just continues the cycle of debt and cannot truly be called "credit card debt elimination". What you need to do is to stop borrowing. You need to set aside a part of your money regularly to pay off your debts. 2) They can negotiate - If you think that all a debt elimination company can do is give you advice, you would be mistaken. In fact, debt elimination companies can contact your creditor and come up with a debt elimination plan that will benefit you all. Through a debt elimination company, you will be able to negotiate with your creditors for a smaller interest rate and lower fees. Often, these debt reduction and elimination companies will suggest different methods that a person can use to get rid of their obligations. One such method will be discussed in this article. The meaning of the snowball method of debt elimination and reduction can already be deduced from its name. If you watch cartoons, then you might know what this means. 3) Advice - Good debt elimination services will give you the advice you need ingoing about debt elimination. This includes advice on: a) How to avoid more debts- Good debt elimination services will be able to give you advice on how to keep debts at bay. This means that debt elimination services should give you advice on how to properly budget your money. To settle things straight, it is only proper to look into the exact amount of money that comes to you and the amount that you spend for your needs. It is vital that you tally them. When you shop or dine, make sure that you jot down all of your expenses in order to know how much is left to you. Start getting rid of the various unnecessary expenses.