I have a buddy at work who is going to buy my 20GB Pro Model from me and I need to know what steps I need to take to ensure that my account is no longer connected to the console and/or any personal information I added into it.

Any help would be greatly appreciated.

Sign out and choose to format the HDD in system options.

Make sure you back up your save files on a usb, as well as your gamer tag if you have signed into live for a while "You'll loose any achievements gained since your last time loggin into live".

OMG Euphoria is selling his 360!

{adds to friends list}

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and my friend did something like this, he just formatted the whole drive

So formatting will erase my gamertag from the console?

Now I have used my credit card to purchase LIVE a long time ago, so if it is still on it where exactly would I go to make sure it gets removed?

Thanks for the quick replies everyone.