Credit problems are at epidemic levels as a result of our current economic crisis. Regardless of your specific situation, use the advice in this article to start improving your credit.

Figuring out your exact credit score by looking at your credit report should be your first priority. It is now easier than ever to find this information online, because some companies even offer these reports for free. If you want to repair your credit you must know what the problems are.

If you owe someone money, you should contact him or her. Your creditors may be willing to set up an easier payment schedule for you. Procrastinating will only make the situation harder to deal with later, since they can add late fees and exorbitant interest rates. If your bills are piling up and you know you're unable to pay them all, then first make payments to the ones who aren't willing to make concessions with you. If one company won't let you set up a long-term payment plan, pay that bill off first to get it out of your hair.

After reviewing your credit report, record the items that are negative. You should list all things on your credit that are negative. There are times that your credit report contains certain errors and incorrect information. That is why it is important to know what is contained in your report. You can then contact the companies that reported you, and get those mistakes straightened out.

Make sure that you understand your rights when it comes to dealing with collection agencies. For example, collection agencies can't threaten you and you can't go to jail for failure to make payments. While states have varied laws, most consider abuse or threats to be illegal. You should become your own advocate by knowing your rights and ensuring that they are upheld throughout the duration of your dealings with collection agencies.

Your credit limit should never exceed 30 percent of your complete credit limit. A higher balance than this can make it harder to make payments on time.

When repairing your credit, take care of the bills you have that are going into collections. The vast majority of collectors want to work with you. Avoiding your collectors will only cause them to try harder to get in touch with you. When you take the time to speak to debt collectors, the chances are greater that they will go easier on you. They may even be able to offer you a settlement to pay off your debt. Setting up a payment plan is a great way to get creditors off your back.

By following the guidelines outlined above, you can start to improve your poor credit score. Everyone one of these tips can increase your chances of getting a better credit score.