Being a debtor you will understand how much trouble you should go through in order to eliminate the debt. The creditors will never leave you alone until you settle the debt. Credit cards are some what traps that make you spend more but making you unable to pay it off. But nowadays as the debt negotiation is possible you can eliminate the debt easily without much trouble.
Here are some useful tips for you to eliminate the debt. There are several methods which you can apply to eliminate debts. One is bankruptcy. Though it is not very advisable to follow this method, you can apply it if you do not have any other choice to. This comes in to action through a court declaration. Once you file bankruptcy, the court will declare that you are bankrupted thus unable to pay off the debt. Then the creditors will make necessary arrangements to eliminate your debt. But note that your all the asserts are in danger when you are declared bankrupted.
Then you have debt settlement. This is a method which you can eliminate your debt without much trouble. There are debt settlement companies to provide this service to you. These companies have the capability of reducing your debt by discussing with the creditors. But in this case you should make sure that you select a genuine and legitimate company for your service. I must say this because there are many fake companies among these so called debt settlement companies. It is up to you to differentiate the good from bad.
There is another option for you. If your debt is over $10,000. You can apply for stimulus money which is provided by the government. If you are lucky, you will be liable to settle the debt with the stimulus money.
With any of these debt relief methods, you have to be careful in handling money. When you are paying your installment, always concentrate on it and cut off all the unnecessary expenses. Calculate your income and how much you are going to spend on debt.