Given the current state of our economy, it is common for Americans to have credit problems. Fixing your credit in a timely fashion will concern those with a just a few or a lot of issues to repair.

First, you need to get your credit score. Many sites provide this information. A few of them do not even charge you. Before you even begin to repair your credit, you must know exactly what your credit looks like.

Contact your creditors, and talk to them about setting up a realistic payment plan. There may be options where you can pay your debt in installments, or wait until you have the funds to pay it. This can save you money and help you relieve stress from financial worries at the same time.

Incorrect or false information can drastically affect your overall credit rating. Get a copy of your credit report and review it for incorrect or false information. If you have errors on your credit report, dispute them immediately.

Understand all the laws concerning collection agencies. Debtors cannot legally threaten you, and non-payment will not result in you going to prison. Even if laws vary from one state to another, threatening you is illegal everywhere. Be well-informed about your rights so you don't feel defenseless when contacted by a collector.

You should keep the balance on your credit cards at 30 percent or below the credit limit. Keeping your balance under 30 percent will help to keep the payments and interest manageable, and this is always better for your pocketbook.

You can either arrange your own payment strategy, or you can make use of a specialized debt settlement service that can combine your different payments into a single monthly sum. Try not to think of the collector as your enemy, because they usually are eager to work with you. Avoidance just makes the problem last longer. By ignoring your creditors for prolonged periods of time, you are not doing yourself any favors. Try to let them know your financial situation so that they can work with you instead of against you. You might even be able to come to a compromise where you would only need to pay half of what you owe. It is much easier to reach an agreement if you cooperate with collection agents. If you can't make a deal, your payment will simply continue to increase.

Get started today by reviewing these tips and getting your credit on track. The suggestions provided can help you to quickly improve your credit.