Different Types of Credit Card Debt Elimination Programs When you ask people how they plan to improve their lives, they will often answer you that they would first get rid of their debts. Debts are undesirable. Despite today's promotion of the culture of credit cards, many people still know the fact that shopping with a credit card is not buying; it is merely borrowing. This means that it aims to help you start from paying off your small debts slowly, and working your way up to the big debts with increasing speed. How is this done? 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. Declaring bankruptcy is essentially like saying that you have no future left in a certain business. This type of business debt elimination not only kills your debt, it also kills your future. Why, you ask? Well, business relies heavily on reputation. If you declare bankruptcy, that declaration will stay with you in your future. People are beginning to realize the consequences of living their lives through credit cards. They realize just how much they would be able to save just by paying with cash instead of credit. People are beginning to notice just how futile it is to keep on paying interest. Thus, they approach different companies offering debt elimination services for help. The minimum balance required by most credit companies often just takes care of the principal, but it does not help to decrease the interest. By following this debt elimination tip, you would be able to reduce the interest and shave years off the time you have to pay. b) Put your plan into effect as soon as possible - The longer you delay eliminating your debts, the larger the interest will be. 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. However, if you think that it will just be too big a job, there are a lot of debt elimination programs and services ready to help you out.