You also need to get your facts straight in order to come up with a good debt elimination plan. You need information on different financial concerns such as interest rates, projected expenses, etc. You need to have this information so that you can come up with a debt elimination plan that's realistic. Now if you cannot take it any longer, consider going for debt elimination. If you are facing such situation, worry not because there are literally millions of people who are on the same boat with you. The bad part though is that since you haven't started your way in this journey, you have to face the fact that you are still in a pool of debt and the only way out there is to seek for the legality of debt elimination. Debt Elimination Scams: A Serious Problem for People People who are faced with problems on debts are always on the lookout for debt firms, counselors, programs, books, journals, websites, and services. Who would not go mad at the pool of debt problems? There are several websites, books and journals that may post what they term as debt elimination helps but in truth they are plainly debt elimination scams. It should be based on a careful analysis of your situation and be suited specifically for you. A good debt elimination program should take into consideration the different factors of your financial situation. Although "generic" debt elimination programs can be a bit helpful for you, these will not help you accomplish your goal in the best manner possible. As a business owner, you have to be aware of this fact. You should not expect that you will always be on top of the world. But then if the worst scenario comes, you must be ready to face all of the circumstances. It is very common for businesses to be under some disputes in billing, disagreements on the contracts stipulated, and some visible discrepancies with the accounts. 3) Find out what is the extra amount you can pay - After you have made the minimum payments for all of your listed debts, try to find out if you can spend an extra amount to start paying off your smallest debt. This means that even though you will be reducing all of your debts, your smallest credit will be eliminated much faster than the others.