Bridging the gap between good and bad credit can take years, but beginning the process is as simple as sitting down to formulate a monthly budget.

Even the pros have to do it.

“I have a binder that I keep everything in, so I know at all times how much I owe on the mortgage and the bills,” said Karen Holland, West Texas regional manager for the nonprofit Consumer Credit Counseling Service. The service helps clients manage debt through education and repayment plans.

A credit record is negatively affected by things such as a high debt-to-income ratio, missed payments and credits cards with balances at their limits. Although consumers have too much debt for a variety of reasons, some people spend until they’ve accrued a credit card bill mirroring the sticker price of a compact car, Holland said.

To avoid such a scenario, Holland recommends:

• Drafting a budget outlining income and debts.
• Using cash or a check to pay for necessities and necessary bills, such as car and mortgage notes, and using the remaining money to pay debt.
• For those with multiple credit card debt, picking one card to pay more than the minimum due. Use all available money to repay the selected credit card and repeat until all credit card debt is paid.