The current economic condition in America is so fragile that there are few people there who are not suffering from their debt. People use different ways to eliminate their debts. Debt consolidation loans are a very popular way to erase debt. These loans require you to allocate an object as security, which on most occasions will be a house. Consumer credit counseling programs are another way to achieve debt elimination that has gained wide acceptance among those who are in doldrums due to their debt. However, the popularity of these programs has been diminishing over the tears due to its unaffordable fees and lack of credibility. Credit card debt settlement is possibly the most availed debt elimination method now as it allows debtors to save money and erase their debt in a comparatively short span of time.