Obtain Credit Report

• Obtain your credit report from the three main credit bureaus -- Equifax, Experian and TransUnion. Federal law requires these agencies to provide you with an annual free report at your request. Go to their websites and call the 800 numbers they provide for consumer contact. Don't go through third-party vendors; they might subject you to advertising, email spam and unnecessary fees.
  
  

Examine Credit Report

• Examine the reports carefully, making sure that you are indeed the debtor on the accounts listed and that the outstanding balances are correct. The accounts will be listed as current, late (over periods of 30, 60 or 90 days) or charged-off. The report will also have information on bankruptcies, repossessions and foreclosures. The credit report will include information on how to report and correct any errors.
  
  

Manage Credit Cards

• Some experts on credit and debt recommend limited use of the cards, paying off any new charges before interest can accrue, to keep up a history of on-time payments and show responsible use of credit. Others recommend not using cards at all unless you need money for a dire emergency and you are unable to borrow the money from another source. They suggest storing your credit cards in a safe place. Don't apply for new credit, as a rejected application also affects your score.
  
  

Late Balances

• Bring all your old accounts current. Pay late balances, calling the creditors if necessary to make payment arrangements on those past-due amounts. Leave the accounts open as you are paying them down. Rising "available credit" balances on the cards generally improve your credit score.
  
  

Communication

• If you can't bring your accounts current, contact the creditor and explain the situation. Many credit card companies will lower interest rates temporarily to accommodate customers who are having financial or personal emergencies and who show a good-faith effort to make on-time payments.
  
  

Professional Help

• Contact a professional financial consultant if you feel you can't get a handle on the debt situation. Use a nonprofit agency that can examine your accounts and your credit report and offer advice on the best approach. Don't bother with debt consolidators. They charge fees for their services and any negligence in paying your creditors on time will end up costing you more than the service is worth.