Is you ask a lot of people their definition of bad credit, you will get a lot of different responses. Here are some of them. People have bad credit when they have collection accounts. You have bad credit if you have one or more 30 day late payments on your credit reports. If a person has been sued by a creditor, they have bad credit. People that have been garnished have bad credit.

That’s one side of the coin. Let’s look at the other side. Just because a person has an account in collections does not necessarily mean they have bad credit. Just because a person has one or more 30 day late payments on their credit reports does not mean that they have bad credit. They have to consider how old the late payments are. Being sued by someone does not mean that a person has bad credit. That account may not be reported to their credit reports. If a person has been garnished and paid off or settled an account, they might be able to get it removed from their credit reports.

I have had people tell me that they had bad credit, when they did not. I have also had people tell me they had good credit when they did not. In each case, these people had not looked at their credit reports in a few years. No matter how many people have bad credit and low credit scores, each individual circumstances have to be considered.

Because there can be over two dozen variables that can affect your credit and different creditors and collection firms have different criteria to fix credit, every person’s situation is unique. If you want help analyzing your credit reports, give me a call at 313-744-5977 or e-mail me at [email protected].  Don’t forget to ask how you can get your free copy of Start Fixing Your Credit Now!