A bad credit history is a terrible thing to have to deal with. Personal finance companies all over the world treat you like the prodigal son all the time. You don't get the same treatment as people who have had good credit in the past. Not that the people you talk to at the companies are mean. They might be very nice to you when they talk to you. When you see the different kinds of loan and mortgage offers you get, you'll know what the difference is.
If you have bad credit, you will never get loans or mortgages with the same interest rates as people who have good credit. Interest rates will always be much higher for you. You might not be able to get the loan amounts you want. This term will always be attached to you, no matter how hard you try to fix your credit history.
You just have to learn how to deal with it and use the loan offers you get to your advantage. They're not that bad, really. All you have to do is keep an eye out for the best deals at the lowest prices. It's not really all that hard. Even loan companies have realised that bad credit loans can bring in a fair amount of money for them these days. So even if you have bad credit, there will be loan companies that will try very hard to get your business. There is a fair amount of competition among companies that offer loans to people with bad credit, so you can expect some good rates and terms.
When you want to buy a house, it can be hard to get a mortgage. A house is a big investment, and your loan provider doesn't want to lose money on it. They will think it's a bad thing that you have bad credit. When you start looking for mortgage loans, you will notice that people with good and bad credit histories are treated differently. If you have a bad credit history, it is time that you stopped looking out for low cost mortgages like the one your neighbor with good credit managed to wrangle recently. But don't let all your problems bring you down.
Don't keep on complaining about how you are being given a raw deal; there has to be a consequence to not repaying past loans. Instead, you should be thankful that getting loans and mortgages is now so easy. The companies that deal with money are doing very well. It's not surprising that they are willing to take a chance by putting their money into bad credit loans.
