Don't worry about your cholesterol - the real issue/risk for heart disease is the ratio of good (HDL) cholesterol to bad (LDL) and, even more important, your triglyceride level. Many studies have shown that a low-carb/high fat diet will actually improve your cholesterol profile. Generally, HDL increases and triglycerides reduce. Some people initially see a slight increase in LDL, but this is much less risky than being overweight and having high triglyceride levels. Also, within a few weeks, the LDL will go lower. Just make sure you do the low-carb/high fat thing right - the carbs are the problem and only serious reduction in dietary carbohydrate will have the desired weight loss/health effects. Hope this helps! If you want to understand the science behind what I'm saying, I'd recommend this talk by Professor Diamond - he really puts it very clearly and should reassure you -
http://www.dietdoctor...-the-obesity-epidemic