You can adjust the rotation of a picture using the fixed motion effects, one rotated you will have to change the scale to lose the black borders to the picture.
Thanks for the response Richard,
For the love of all that is holy, where, WHERE is this??? I've spent over a half hour trying to correct a probably 7% off-horizontal clip and i am sweating i'm so mad. PLEASE talk to me like I'm five years old and it's my first time using this. I've literally edited like 20 clips before and done a million other things and never in my entire life have i been so befuddled. I'm losing my damn mind!!!!!
Click on the clip you want to correct on the timeline to select it. Once it is selected, go to the Effects Controls Panel.
Adjust the rotation and scaling as needed.
You are a life-saver.