what causes people to have bad credit?

Answer 1

Usually, it's for not paying their bills on time or filing for bankruptcy.

You can have a low credit score for other reasons:

Too many credit cards
Too many recent inquiries into your credit report
Stolen identity
Mistakes by the credit bureaus
Moving too often
Changing jobs often

.

Answer 2

Bad credit is one of the worst problems to have... however there exists a solution.

I will hereby talk from my personal experience.

I did debt consolidation a couple of years ago, however If I had to do it again I would pay to some minor details,
if someone wants to get out of debt today it is pretty easy with a debt consolidation plan, however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,

a good place to start in my humble opinion is astraight to the point ebook with question and answer I found :

http://umgarticles.atspace.com/debt-consolidation.htm

if it helps kindly remember me in your voting!.. cheers!

Answer 3

On one side it's not ever borrowing any money. No car loan, nothing in your name that you are financially responsible for.

Otherwise it's late payments, no payments, going above your credit limit, over-due medical bills, bankruptcy, stolen identies where things were bought in your name and not paid for, co-signing a loan someone didn't pay on, bad timing, acts of God. Sometimes it's poor choices and other times it's just unfortunate things that happen. You can do everything right and still mess up.

People overextend themselves, they unexpectedly loose their job, have an accident or illness that keeps them out of work, unexpected medical bills or car repair,

Answer 4

Bad cash flow management.

http://index-go.com/improve-credit-score-get-out-of-debts-fast.asp

Answer 5

Many reasons but the most common, loss of employment

Answer 6

Hmmm, let's see....could be living beyond one's means, not paying bills, over the limit on cards, etc...the list goes on.

Answer 7

never paying a debt, or falling default on mortgage or car payments, too many debtors