Instead of having a greater loan amount, there only now exists a bigger repayment scheme and the money will now go to the credit counselor because he will already take charge of the distribution of such to the concerned debtors. Another option is the filing of bankruptcy. There will be no further questions when bankruptcy is the case. Some people may think that debt is a convenience and given people's tendency to make use of credit cards instead of cash today, this might actually seem quite true. However, you should never be fooled by the offers of convenience given by credit companies. Remember that debt is a problem. More people are beginning to realize this fact and are taking steps to eliminate their debts. You need to throw out your credit cards, ignore any credit offers from companies, and just quit adding to your debt. Whatever you do, do not go for a last minute shopping spree just to say goodbye to your credit card. If you want a debt elimination strategy to work, you need to implement it now. You need to just put down those credit cards and walk away. There are cases of people who found that the interest could actually grow large than the principal debt. What increases interest? The answer to that is time. As long as you aren't able to pay off the principal debt, the interest will keep on increasing. With debt elimination, you will be able to stop this monstrous growth before it overwhelms you. b) Efficient - Even though the plan is easy, it should try to achieve the goal of eliminating your debts as fast as possible. A plan should make full use of what resources you have available in order to achieve a goal. 2) Negotiate - Debt elimination services should help you negotiate with your creditors in order to reach an agreement concerning your debts. So the real thing is if ever you are in debt, you may be daydreaming about the most possible way of ridding yourself of your existing debts. 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.