Federal law provides that when you are billed by a collection company the fees and interest cannot exceed the amount of the original debt. You did however sign a contract that agrees you will pay off all interests as well as the debt. If you're going to try taking your creditors to court, make sure you can prove the interest rates they charged were excessively high.
If you want to boost your credit score and earn a decent living, open an installment account. All installment accounts must stay above the set monthly minimum, so only open one if you can afford it. Your credit score will significantly get better if you get an account.
If you find that you have a credit card and the interest rate has gotten to high, you do have the option to not pay the debt, though there will be consequences. Creditors are skirting a fine line of law when they try to charge you exorbitant interest rates. Remember you agreed to pay any interest that accrued over the life of the account. If you choose to bring a lawsuit against your creditors, use the high interest rates against them.
Good credit isn't worth much if you are in lockup. Sites may act like you can create new credit lines and tell you how to do it. You will be prosecuted, it is against the law. Legal repercussions will cost you a lot of money, and you could go to jail.
Don't spend more than you make each month. This might be a tough thing to get your head around. The rise of consumer credit in the past few years has made it far too easy to buy items without being able to pay, and the bills are coming due. Be realistic about the lifestyle your income affords you.
Close all your credit cards except for one as a means of repairing your credit. You should plan on how you will pay the remaining open balances, or how to consolidate them into one account. This way you can work on paying one credit card balance off, instead of a bunch of smaller ones.
If you are trying to improve your credit score but are having difficulty gaining access to new credit in order to do so, join a credit union. Credit unions are normally located in communities and offer lower interest rates than national banks.
Avoid using your credit cards whenever possible. Instead use cash for all your purchases. If you have a situation where you have to put a charge on your credit card, make a point to pay it off as soon as possible.
In order to start repairing your credit, you should try to pay down the balances on your credit cards as quickly as possible. Pay down your cards that have the highest interest and largest balances first. Doing so shows your creditors that you are taking your debt problem seriously.
As part of your credit repair process, it is a good idea to terminate all of your credit cards except one. You can transfer all of your balances to one credit card, ensuring you choose the one with the lowest interest rate. By doing this you can make your bills more manageable. Instead of a mailbox full of credit card bills, you will only have one.