Now that the economy has taken a downturn, even more people are struggling to maintain good credit. Repairing your credit will not happen overnight, though here are some tips to get you started.

First and foremost, find out what your credit score is. You can can get your credit score for free through many different websites. Close examination of your credit score will give you the ability to correct any incorrect information that is reported there.

Many times creditors will give you an extension on your bill, or adjust your payments. When you know what bills can lead to higher interest rates, you can avoid paying more then you should. Pay off the accounts that assess penalties first, and then work on the more forgiving accounts.

Look over your credit report and make a list of any negative information and mistakes. Credit reports are not always perfect, so it is quite possible for yours to contain errors. Know ahead of time what to look for in your credit report, both good and bad.

Learn all the laws regarding collections so that you are aware of your rights. Collection agents cannot threaten or harass you. Do not allow your self to get bullied. Educate yourself about your rights and the laws in your state, and use that information to your benefit.

Your goal should be to maintain balances on your credit cards that are less than thirty percent. The less you put on your credit card, the smaller your payments will be. Balances greater than 30 percent will throw off your debt ratio and restrict your disposable income. Be sure to watch your balances to ensure they are kept to a minimum.

If your debt has been sent on to a collection agency, try speaking with them to see what options they may have to offer you in the form of repayment plans. In a lot of cases, collection agencies will work with you. Avoiding a bad situation never makes it any better. Advocate for yourself and let the collection agency know that you are struggling financially yet you are willing to work with them to pay down your debt. Collectors might agree to reduce your debt since they bought your debt from the original creditor for pennies on the dollar and will be happy to make a profit. If you try to make payment arrangements, they will be more likely to work with you. If your creditors feel you are making a good effort to take care of your bills, they are more likely to work with you in helping you get them paid off completely.

If you want to take control of your credit, just follow these tips. Incorporate the advice in this article, and get on the road to good credit today!