First you should analyse your all backlinks then find the which links can make you some effects on your site.
Then use Linkquidator to remove that bad link for your site.
How can we analyze backlinks? Are there any specific tools?
Of course there are many tools out there to analyse your backlinks,
1.Google Webmaster Tool
2. Ahrefs
3. Open site explorer
4. Majestic SEO
5. Link researcher Tool
Thanks. I'll look into Google Webmaster Tools. Trying to keep my expenses down, at least until I start making it big with my site.