http://www.debtconsolidationweb.com/debt/legal-debt-elimination.html Legal debt elimination is the best way to get rid of your debt. Here are some ways to spot companies that don't practice legal debt elimination. en-us Sat, 26 Jul 2008 15:00:00 EDT Sat, 26 Jul 2008 15:00:00 EDT Weblog Editor 2.0 If you don't know what debt elimination programs are, the fact that they can get you out of debt in five years might make them sound a bit shady to you. But since most debt elimination programs are legal debt elimination programs, all you need is a little understanding about how they work. Understanding is the Key We've all heard the expression, "If it sounds too good to be true, it probably is." That's why you avoid debt elimination programs that guarantee to "repair" your bad credit (if you actually have bad credit). Nobody can do that, and any debt elimination services that advertise that probably aren't legal debt elimination services. In addition, any company that suggests that you get a new taxpayer identification number and change your identity to "fix" your bad credit is probably not running a legal debt elimination business. Most legal debt elimination companies will offer one of five debt elimination programs to you: Debt consolidation Debt consolidation loans Debt consolidation mortgages Debt settlement Student loan debt consolidation They will offer the one that's most appropriate for you and explain how it works in detail. But don't expect to be out of debt overnight. The only legal debt elimination program that can come close to that is debt settlement, but that will have a negative effect on your credit, in much the same way as a late payment would. There are a lot of benefits to enrolling in one of the other debt elimination programs though: You'll be debt free in about five years You'll save a lot of money in interest charges Your creditors will stop harassing you (if they're currently doing that) There are also other benefits, depending on which program you choose. But again, your debt management company will know which one is right for you. You'll be experiencing total debt elimination in no time! Sat, 26 Jul 2008 15:00:00 EDT