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What is Debt Elimination & How Does It Work?

Debt Elimination is a relatively new debt reduction method that utilizes consumer protection laws under the Fair Debt Collection Practices Act. To be more accurate debt elimination doesn't actually reduce your debt but rather eliminates it entirely. Initially this might seem quite unbelievable & impossible to do however as you continue reading you'll soon realize how this works as effectively as it does. To fast debt elimination start your credit and debt counseling and you will be on your way to debt free living.

If you are not familiar with the Fair Debt Collection Practices Act then we recommend that you take the time to read & understand it thoroughly. It is this law that makes debt elimination programs completely legal and viable.

You see, the Fair Debt Collection Act protects you from 3rd party debt collectors because you haven't actually signed any formal (or informal) contract with them. You signed a contract with your credit issuer alone. Once that creditor writes off your debt, it is not lawfully collectable by a 3rd party debt collection agency without a new contract being signed between you and that 3rd party collection agency.

What debt elimination programs do is provide you with a legally binding letter which you send to the debt collector/s. In order for the collection agency to legally continue with the collection proceedings they must respond to the letter. However since they cannot legally respond (due to the format of the letter which highlights various aspects of the Fair Debt Collection Act), their only course of action is to never contact you again in regards to the debt and it is simply written off.

These debt elimination programs provide everyone with an alternative to debt consolidation which simply juggles your debts around into the hands of a new creditor, and the embarrassment of having to declare bankruptcy. They are very useful to terminate your unsecured personal debt & protect you from harassing debt collectors.

Debt Elimination is cost effective, extremely simply, and can remove large volumes of debt almost immediately if they have already been handed over to collection agencies. That is why it is fast becoming one of the most popular methods to eliminate debt and help people get back on their feet again financially.

debt elimination

What is Debt Elimination & How Does It Work?

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