Credit lessons from the soap operas

"I object!"

It seems like every time there's a soap wedding, some old flame who's been wronged bursts through the doors just in time to object to the marriage. In other words, the past always comes back to haunt you!

Lesson: Don't wait until a potential creditor objects to your loan application to discover and try to explain past credit indiscretions. Be in charge of your credit fate.

"Your credit score is basically your financial life story -- whether you paid bills on time, how much debt you have and more," explains author and personal finance expert Catey Hill. And knowing what that score is and working to improve it (by requesting a free copy of each one of your credit reports every year via annualcreditreport.com) can save you a lot of dough down the line, since higher scores mean lower interest rates.

The good news: "If you don't have something imminent that you have to purchase, you have time to improve your score," says Clarky "Debt Diva" Davis. "Take charge, and start working with creditors to pay off debt."