Don’t close or cancel any cards or lines of credit you may have.
Make sure you are paying AT LEAST the minimum on each account EVERY month. If you can’t manage to do this, you will need professional help for your specific situation.
Pay off the balance of the highest interest accounts with any money you have. In most cases you’ll want to use any savings beyond any cushion you need for safety. Do NOT borrow from your retirement accounts.
If your score is still high enough that someone is offering you a 0% interest rate for 12 (or more) months for a 3% fee on a balance transfer, use this offer to pay off (or pay down) your highest rate cards. At this juncture, do not apply for a new card just to get the offer. Keep in mind that you will have a minimum payment on this money, and you will need to keep track of when the 0% period ends. Do NOT use this card for any other charges. (There is generally a 3% charge for this, which is better than the 18, 21, 25% you might be paying already.)
