You will avoid risking the occurrence of debt when you follow this step. Pay your dues. It is very simple to say that you will use your credit card. But then how about paying for your dues? Isn't it such a tasking endeavor for you? If you only know how to avoid compounding your balances, you will surely be free from worries such as this. This means that consultancy fees of experts may be minimal. However, the disadvantage of this type of credit card debt elimination program is that it takes a longer time and a lot of discipline to follow it through. 2) Negotiation - A common credit card debt elimination program used by people is to negotiate with their creditors to forma a payment plan which can be easier on them. 4) Repeat the cycle - After you have paid off your smallest debt, use the money you have budgeted for the minimum payments to pay off the next debt on your list. This means that the next debt will be accorded the following amounts: a) The minimum payment for the debt b) The minimum payment for the previous debt c) The extra amount that you can afford As you can see, the budgeted amount for each debt increases as each debt is paid off. They reason to themselves that losing one's entire fortune is impossible. However, bankruptcy is actually more common than you might think. When a company no longer has the ability to pay off creditors, the company often declares bankruptcy. This immediately dissolves your debt. However, certain consequences come with bankruptcy. If you go to the wrong website, you might end up getting and following some very bad advice. 3) Debt elimination companies - Many companies today offer credit card debt elimination information. They do this in order to inform people of the fact that debt elimination can be accomplished. Other Debt elimination companies offer this type of information in order to attract clients. Included are debt consolidation, debt management, debt settlement, debt negotiation, debt counseling, and a lot others. The most popular and legal debt elimination technique is by procuring debt consolidation loans. The payment for very overdue loans will obviously require you to pay for a large interest fee.