Answer: -You've got it right. First you need to know the current status of your credit. Get a report from all three major reporters (Equifax, TransUnion and Experian). Don't get a "three in one" report, get the real thing from each place. You might even be able to get a free copy depending on where you live. The "Three in one" makes it harder to report errors.Then you need to make a battle plan for which bills to pay first, and how much. There are some credit repair assistance places but I would beware of the for-profit ones. There are alot of scammers out there that take advantage of people trying to fix their credit. -First of all you have to find out if any of your debts are past the Statute of Limitations, (the time creditors have to legally collect on the debt). If they are, then you don't have to pay them. Educate yourself about credit, Go to www.creditboards.com and READ all you can about credit repair. It's time consuming, but so worth it. I have been repairing mine as well, and slowly but surely, it's getting a little better. And the best advice I could give you, NEVER believe (or pay) a collection agency. -Wouldnt call the creditors, or if you do, one at a time, cause you can open the flood gates if your not careful. If you really intend on paying off your old debt, do it one at a time, figure out if you can pay one item off in full, or do you need to make payments. If you can pay one in full, call that creditor, tell them you want to make a deal and they will deal with you for maybe $0.50 on the $1.00If you cant do it, read this kids blogs, they are really helpful.