Here are some tips on maintaining a good credit rating:

1. Keep up with your credit report with the three major credit bureaus. Every 12 months you are able to get a free copy of your report on the Internet by using annualcreditreport.com. Note: the only thing that is free is the report itself; to get your credit score will cost you some money.

2. Keep your credit card limits below 30 percent of the limit. Most financial experts say that this is the threshold where having a credit card hurts your credit score. The actual formula to determine your credit score is kept top secret, but this is one that everyone seems to agree on.

3. Pay slightly more than the minimum payment on credit cards. Credit card companies that already have a relationship with you will look at your account before they look at your credit score. If you've paid more than minimum the past 12 months, they might be willing to waive late fees, increase your credit limit, or lower your interest rate.

4. Call your credit card companies and ask them to lower your interest rate. The worst thing that can happen is they tell you "no." And if you've got multiple cards you are looking to get rid of, start with the cards from the companies that told you no.

Dealing with debt collectors:

First, make sure all communication with a debt collector is in writing. If you're receiving phone calls from debt collectors, ask for their physical address and tell them that you request all further communication in writing. Then send a certified letter stating the same thing. That should stop the phone calls and you've got a record trail.

Secondly, anyone receiving collection requests should validate the debt. It's your responsibility to ask a debt collector to prove that they are allowed to collect the debt. Many scams have popped up where a fake debt collector calls someone and tells them they owe money. The victim gives them a credit card number and pays it. You should never pay on a debt until you know for sure that it's real. Wikipedia has a good entry for debt validation. It's as simple as writing a letter, and it can save you a lot of strife. Until the debt has been validated, a debt collector cannot report you to the credit bureaus. It's up to the consumer to stay on top of it.

For more information on credit reporting and debt collection, visit the FTC, MyMoney.Gov, Wikipedia for FDCPA