For a lot of people, credit card debt is a very real and serious problem. A lot of people have given up and have just started to accept that they will perpetually be in credit card debt and will never be able to become debt free. Making the minimum payments can even be a huge challenge for people, as we see credit card interest rates continue to rise and household incomes decreasing because of the continuing recession. It seems like it gets harder and harder every day for people to be able to clear debt and be able to live a debt free lifestyle.
The challenges of trying to clear debt have led a lot of people to debt management programs to try to help them get the debt relief they desperately need so they can finally erase debt. A debt management program will have you work with a debt counselor and create a plan to help you finally become debt free. They will examine your income and expenses and create a budget for you based on essentials that you need to survive, with everything else going to pay off your credit card debt. They will also contact your credit card companies for you and try to get them to lower your monthly payments and interest rates so it will be easier for you to clear debt.
The downside to debt management programs is that they can take a very long time to complete depending on how much credit card debt you may have. Sometimes a debt management program can take between 3-5 years for you to clear debt and become debt free. For a lot of people, especially if you have credit cards with extremely high interest rates, that can be a very reasonable amount of time. However, you will be on a very tight budget and every extra dime you get will have to go towards the ultimate goal of becoming debt free. This means you can forget about stopping at the café on the way to work and grabbing yourself a nice latte to start the day, because that will simply not be in the budget if you are working with debt management in order to clear debt. There is a way to become debt free and not spend years tied to a super strict budget that makes a cup of coffee an extreme luxury, and that method is known as debt elimination.
Debt elimination will wipe out your debt practically overnight, just like it was never there so you can quit waiting and start living a debt free life. If you would like to erase debt once and for all, and not spend years doing it, you should consider debt elimination. If you need to eliminate your debt and not simply manage it, consider debt elimination as the viable and legal choice.