When it comes to credit issues, we all make mistakes of one kind or another. But many people have no scruples in such matters. At one point in time, bad credit was more of a reality for most of us. It’s because there were so many options available that we never really considered if a loan would do us good or pull us down even further, or if we would be able to pay for credit card purchases at all.
We have spent hours and hours agonizing over why this had to happen to us as opposed to someone else. In all honesty, there was a time when I owed so much that I had been making late payments or altogether missing payments. But the idea of bad credit hardly bothered me. In fact it was the farthest from my mind. I just wanted to finish paying off my debts, and never really thought about the disadvantages of becoming a high risk borrower.
I have found that a woefully large number of people have no idea about all that bad credit entails. To clear things up, bad credit usually stems from not being able to make timely payments, failing to pay, exceeding your credit card limit and filing for bankruptcy. An occasional late payment, however, is not going to result in...
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