Re: I made a mess!
You can skim coat the frayed paper with "hot mud", which is a dry mixed taping compound, it chemically hardens like cement, rather than drying like normal drywall compound. Apply a layer, then carefully peel/cut off any fraying that puckers due to the moisture of the skim coat. Apply another layer of the hot mud, then switch to normal topping compound and skim with that to smooth the surface. Take your time to apply the layers as evenly as possible, as this will minimize the amount of sanding once you get out to your top coats. Between layers, take your taping knife and whisk it across the surface, this will knock down any ridges and lumps, minimizing the amount of floating and sanding you'll ultimately have to do to smooth the wall ready for texture and/or painting.
I suffer from CDO ... Its like OCD, but in alphabetical order, LIKE IT SHOULD BE!!!