You have a number of ways to achieve credit card debt elimination. Of course, earning a living and making more than the minimum payment on your credit cards is the plain and simple way. Sometimes, because of over-spending, job loss, sudden medical expenses, and especially in these recessionary times, credit card payments can get out of hand. And just getting another better paying job to cover your higher monthly debt is not usually a feasible option.Take a good look at what you are actually paying every month. For just about every dollar you pay to your credit card company, a good seventy-five cents or more goes to interest and other finance charges. You are a rat on the ever-turning interest wheel with very little of your money going to pay the actual debt.The Debt Settlement ToolIf you are approaching bankruptcy, if you are afraid to answer the phone, you should probably consider working out a debt settlement deal with your creditors. If it is done properly, you should only have to pay fifty percent of what you actually owe and get a discount on the balance. Understand, this has to be done with the consent of the lender.Of course, until you get things under control, it is time to cut up your credit cards, too. But, with this, the annoying phone calls will stop and you will be able to get some sleep instead of tossing and turning all night worrying about bills. Also, your monthly outlay on bills will become more manageable. Within a year or a year-and-a-half, your credit card debt could be completely eliminated.Not Just for Credit Card DebtWhat can work for your credit card debt can also work for other personal loan transactions. Keep in mind that the first debt settlement deal is always the toughest. Once the first creditor has accepted a debt settlement deal, it will be easier to bring the others in line. A precedent has been set and other lenders will usually decide that they had better follow along or lose even more money.As much as possible, you will want those from whom you are asking for a settlement to see that you are on the verge of bankruptcy. Make it clear that the only other option is bankruptcy. As the monthly debt outlay decreases, you will find yourself in a more comfortable position and in a better place from which to regain control of your finances.Others Can HelpIf you are in over your head for $10,000 or more, you should definitely consider debt settlement. If you do not feel that you are up to arranging the terms with each of your creditors, there are organizations that can help. They are called Debt Relief companies and could be a great place to start legitimate settlement options with your various lenders. The help they offer deriving settlements can be free, with you making monthly payments to them alone rather than to any number of individual creditors. Hopefully, you will have learned that nothing is free, that bills do come due, and not get yourself into the situation again.