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The Best Ways to Eliminate Debt

By: kjmena

Trying to eliminate debt can be a tricky thing, especially when it gets to really high levels. An average American has a debt load of over $15,000, which is a significant amount of money to try to pay off alone, not including interest.

However, most people struggle to eliminate debt due to all of the other bills and priorities in life. This eventually will lead to a huge amount of debt and an overwhelming feeling that you will never be able to pay it off.

But this can be avoided, when you take the right steps towards debt elimination. Keep in mind that eliminating debt does take time and can be a lengthy process.

Eliminate Debt, One At A Time.

Many people feel overwhelmed when it comes to trying to eliminate debt because they try to tackle too many debts at once. The best thing to do is to try and handle one balance at a time.

Start with the debt that is the lowest and will take the least amount of time to pay off. You will only be worried about a single payment a month and not feel like you are spreading yourself thin.

Keep on following this model until you finish with all your debts and are completely debt free. The process to eliminate debt can be a little frustrating and can make a significant impact on your credit score, but as you near the end of the process, your credit score will improve.

Stop Using More Than One Credit Card.

Having more than one credit card is a common thing but also the root to many debt problems. The best way to use a credit card is either to build credit or for emergency purposes. However, those with multiple credit cards use the cards frequently and without thinking.

Instead, of being an avid credit card spender, decrease your load to one. Cut up the rest and only use the remaining one sparingly. Also you should only use this single card if you know that you will be able to pay it back in a month.

This will stop your debt from increasing and keep interest from being the amount that costs you the most.

Talk to Your Creditors.

Credit collectors can be very scary people especially when they are harassing you for money. But you should think of them as allies in you journey toward debt relief. Opening a line of communication with your creditors, will make them more open to negotiating and setting up an affordable payment plan to help you eliminate debt.

However, when you do talk to your creditors, make sure to take notes and write down your conversations. Also go into these negotiations with clear goals and your bottom line so you know what to offer them.

Get Professional Help to Eliminate Debt

Sometimes debt can just get overwhelming and too difficult to handle alone. This is when seeking professional help can be your best option to eliminate debt. A professional is more experienced and adept at handling debt issues.

A professional debt specialist will also be able to assess your debt situation and give you the best option to resolve your problems. Additionally, they will give you tools and tips going forward to stay out of debt and build good credit.

When seeking a professional, make sure to do your research and look for accredited companies or individuals. Look for a professional with proven results and a track history that aligns with your debt relief goals.


Debt elimination can be achieved when given the right tools and a guide. You should start working on a plan to eliminate debt and shore up future finances. The road to debt freedom can be long and arduous but once you reach the end it is definitely worth it.

  • Take the first step!