In fact, debt elimination companies today will take the time to sit with you and analyze your finances. Because of this, you will be able to come up with a debt elimination strategy that is tailored to your needs. This means that you will be able to focus all of your efforts to remove your debts. 4) They need your help - If you think that you can dump all of your problems into a debt elimination company, you would be mistaken. You will just wake up one day that there are a lot of people who are calling you, writing you, or worst, suing you because you are unable to pay your dues. Can you bear this? Will you be able to deal with this matter? When you have several debts, you seem to be working endlessly but then your wage is just enough to pay for the interest rates of your debts. Credit cards provide automatic cash. You need not bring with you a couple of bills when you are out to shop or dine because you've got your handy credit card. But the thing is credit cards simply mean getting trapped into some sort of debts! Therefore, the higher you spend and the oftener you make use of your credit card, the higher your debt gets! In fact, very few people today do not have any form of debt. This is the reason why they wonder whenever some person talks about debt elimination. Why is debt elimination so important? 1) Debt limits your finances - People who are in debt spend most of their earned money paying those debts. Here's a typical scenario. 2) Pay the minimum balance on all debts regularly - Creditors often set a minimum balance that you have to pay regularly on your debt. After you have listed down all of your liabilities, you need to commit yourself to paying their minimum balances regularly. This means that you will be able to slowly reduce all of your debts. There are two explanations that can be used when a business suddenly becomes free of debt: 1) Bankruptcy - Some people would turn pale at the mere mention of this word. Many people think that bankruptcy is a very rare occurrence. They reason to themselves that losing one's entire fortune is impossible.