If you have gotten yourself into a financial situation that leaves you signing your pay check over every month to bill collectors with little or no disposable amounts left for you, then you have gotten yourself into a position where you need to get some debt management before you ruin your credit with late payments, repossessions, and bank foreclosures.

Your credit is your saving grace to help you provide the things that you need but cannot afford to pay cash for. Your car and your home are purchased on credit. The credit comes in handy when you need a new appliance that you cannot live without, or when you need repairs on something major. If you abuse your credit by purchasing everything on it without learning to wait until you can afford the next thing, then you will eventually find yourself in a fix that requires you to get help to get out of it.

If you do not properly manage your spending then you will ruin your credit rather than improving it by purchasing more than you can comfortably pay for. Your credit score is reduced when you have late payments, or when you have all of your credit cards maxed out, and also when you seem to have too many credit cards.