Debt elimination has gained more popularity over the past decade as debtors search for a safe, legal way to take control of their debt while avoiding financial extremes like bankruptcy, garnishments and lost assets. Debt elimination comes in a variety of forms and for these purposes we are going to talk about the two main types of debt elimination: debt consolidation and debt negotiation.Debt negotiating is something every debtor can do TODAY to help their overwhelming financial situation. While, it may feel intimidating to negotiate with your creditors, and you will likely get a couple of no’s before you find the right person to talk to, it’s well worth it. Simply asking for a payoff discount or interest rate decrease can save you hundreds, even thousands, just by asking. No matter how intimidated you are, for the sake of your family’s financial welfare, you have to be willing to do at least that. If you are unable to do this, there are companies who specialize in debt negotiation and have experience working with creditors on your behalf to help shrink your debt and get it under control. Debt negotiation is a great, easy and cost-effective way to start taking control over your finances and debt.If you are looking for something a little more intense or feel you are past the point of negotiation with your creditors, debt consolidation is another option. Debt consolidation companies and programs offer the ease of consolidating all your debt into one loan with one easy payment, due date and creditor. This works by the company establishing a loan for you, which then pays off the current and past debt you want to take care of and leaves you with a loan owed to the debt consolidation company. This can often bring down interest rates, monthly payments and, of course, bring a stop to the harassing debt collections actions like phone calls and letters. Many debt consolidation companies also offer the additional service of contacting your creditors for you to set up payment arrangements. So, all you have to do is gather the information needed for the loan and sit back and relax.Taking control of your debt is essential to a happy, healthy life and family. With so many options to choose from, it’s easy to start taking control of your financial situation today and work toward your goal of debt elimination.