Peggy Palms, an attorney and real estate broker, says better understanding of your finances will help you recover and avoid future problems, but don't fall for promises of credit repair or quick fixes.
"Most of them are scams, and they collect a lot of money from people who absolutely cannot afford it," she says.
Palms says the majority of credit counseling companies, including nonprofits subsidized by credit card companies, do little to help their clients. Instead of falling into that trap, get help from financial institutions that offer counseling as a member service or from religious and service organizations, which often also have personal finance programs, she says.