One of the first steps on the way to debt elimination is debt consolidation. Cut down the number of credit card, you have. Do not get new ones. Pay out the debt on the highest interest cards first, and then try to move your debt to one card with the lowest interest.

The way to debt elimination lies through analyzing, how much debt you have and where you have it. Sometimes, people have too many creditors with different interest rates. They get all confused about them. So, debt consolidation is a good idea. Bring your debt to one place with the lowest interest on it.

Debt consolidation is one of the things you can start with, when working on debt elimination. If you feel unable to cope with it on your own, find a good, reliable and reputable debt consolidation agency to help you out.

If you plan on working with a non profit debt consolidation agency to help you with the debt elimination, this still does not mean, you have found honest people. Non profit agencies can be fraud, as well as for profit ones. So, check them out with the BBB first.

On your way to debt elimination, you should consider getting rid of all those credit cards, you've got. Write out all of them on a sheet of paper and write the interest rate you pay on each of them. Then proceed with debt consolidation and move your debts to the cards, with the lowest interest. Make it less, than 20 percents.

Do It Yourself debt consolidation and debt elimination

The first step in debt consolidation and eventually, in debt elimination, is checking out your creditors. It might be a surprise to you, but they may not be your creditors anymore. That is not a pleasant surprise, as they might have sold your debt to a collection agency. So, check that up first.

Negotiating is the key step in debt consolidation and final debt elimination. If your creditors set you a high interest rate, this does not necessarily mean, you have to accept it. See, how much cash you've got and can pay out right away. Negotiate the terms of payment and interest rates on your debt.

If you are dealing with the collection agency during your debt consolidation process, you should ask them to validate your debt first. Then you can proceed with debt elimination. Online you can find samples of debt validation letters to send to your collectors.

The more credit cards you have, the more you spent and eventually, the more debt you have to cover. So, doing your debt consolidation, come up with a list of credit cards, you have. Find the ones with the least interest on them and consolidate the debt on them through balance transfer.

Doing your debt elimination, you should do debt consolidation and then see, how much you can actually pay on it. So, calculate your income and see, what you can really afford to pay on your debt.

Debt elimination and debt consolidation strategy tips

One of the essential tips on debt consolidation and debt elimination strategy is to keep your debt in one place with the lowest interest possible. This means, closing all your credit cards, but one or two. This also means knowing, what rates of interest you are paying on each of them.

Planning is the key in debt elimination strategy. Making debts is easier, cause it does not demand any planning. Getting out of debt and debt consolidation does. Make a first step and find out how much debt you have and how much interest you pay on it.

Turn for professional help, if you want to find out about the best debt consolidation and debt elimination strategy. But, before you hire a professional in this area, make sure to check up their reputation and skills.

Make negotiations with your creditors a part of your debt elimination strategy. Start with debt consolidation first to have less people to negotiate with. Talk to them about the terms of payment on your debt and interest rates.

Knowing where you are now and making a step by step plan of where you want to get in a year from now is the key of debt consolidation and debt elimination strategy. Once you make such a plan, keep it. Follow it to the letter and try to do even more, than it tells you to.