You answered all "A"

Congratulations. You set the curve. You're an example of what it means to be financially responsible.

You answered mostly "A"

Looking good. You're credit smart, but not yet a credit scholar. Get all of your answers to "A" and you'll be at the head of the class.

You answered mostly "B".

Ok, you're not in dire credit straits. Yet. You can do better. Ideally you want every answer to the above questions to be "A". Once you're there, you're well on your way to being in great shape financially.

If you answered "C" to any of the questions...

...it might be time to reexamine your budget, financial priorities, and credit obligations. If you can't make your credit card payments, try the following:

• Use your card sparingly - or leave your card at home. If you can't make payments on time, contact creditors immediately. Most important, develop a plan to repay your debt and stick to it.
• Note the names and phone numbers of your specific contacts at the creditors' offices.
• Follow up your phone conversations with letters confirming any agreements.
• Keep in continual contact with your creditors until the problem has been resolved.
• Bankruptcy should be a last resort for solving financial problems-it doesn't wipe your credit slate clean or give you a fresh start. And it stays on your credit report for up to ten years.

For additional help in budgeting or working out your debt problems, call (800) 388-2227 for the nearest National Foundation for Credit Counseling affiliated agency. The content on this page is based on Quiz Yourself on Credit, prepared by the National Foundation for Consumer Credit.