I have came to know from many of my friends about all the bad thoughts about Cholesterol. So thought of putting my view. Also added some of the best links you can refer :-

• Cholesterol is not really a bad substance in your body. Realize it . Indeed, cholesterol is essential for life in all humans and may be for all livings.
• This is not something which we can burn like fat. The purpose of Cholesterol is to help our body, this is not a fuel or energy.

• There are different types based on the level of Lipoproteins. I have seen people avoiding certain foods which will really help to boost your HDL levels. Understand that having a high HDL value is healthy only.
• Try for a good diet which will increase your HDL level. You need not worry about LDL then.

Below one is a good read about Cholesterol, types and how to balance it.

http://www.webmd.com/cholesterol-management/guide/understanding-numbers