Answer: -First off, DONT close your old credit cards. There is a myth that doing that will somehow help you, your old cards give you more and more history on your reports, especially if they are paid in full. If you dont want to use them, put them in a drawer somewhere but dont close them completely! There is a vast wealth of information available at www.creditboards.com in the forums, along with many people (myself included) who would be more than happy to help you along. Go to the forums and read, read, and read some more. There are many mistakes you can avoid making by becoming as informed as possible. -First off you must obtain your credit report... you can do this online or through your bank.... check the report carefully. do not only look at the number they assign as your credit score, but look at the outstanding balances. if you do not recognize them, or know you did not incurr the bill, call the company immediately and tell them that you did not purchase/incur the bill and that they have to provide you with evidence that it was in fact you who incurred the bill. if not them must dismiss their claim against your credit. if you did incurr the bills, then call up the credit companies and tell them that you want to work out a deal to pay them back. more oftem then not, they will immediately take off 10-20% if you pay the remaining balance in one lump sum.... and then just continue down the list, and pretty soon your credit rating will bounce back!!! -First, make sure that your report is accurate. Dispute anything that is inaccurate and get it cleared off.Take all of your credit cards - pick one and destroy the rest. Pay all of them off and then work extremely hard to pay off the one that you have. Don't be tempted by new mail offers... just say no.