When a person carries out certain negative financial decisions, whether it is in their control or not, they end up developing a bad credit history, which in turn, gives them bad credit. When a person has bad credit their credit report will have negative listings and their score will be low, making it difficult for them to carry out necessary and basic daily financial activities.

If a person has a credit of under 600 then this is generally considered bad and they need to do whatever they can to try to boost their score, especially if they are looking to increase their chances of getting accepted to certain financial programs at their bank. Generally, 300 ranks as the lowest credit score rating and 850 as the highest. The higher the score a person has, the greater opportunities they will receive to take out low-interest loans, and event rent or buy a property.

A person develops bad credit because of the negative listings on their credit report. These can include:

  • Late payments made to institutions
  • Collections
  • Charge-offs
  • Liens
  • Foreclosures
  • Judgments
  • Bankruptcies

It is important to note that when identity theft occurs and someone steals a person’s identity, one can have their credit score negatively affected as well. If someone stole a person’s identity and then they decided to open new credit accounts under that name or they made changes to one’s existing account this can have detrimental consequences for one’s credit. If a person ever loses their ID or credit card, they should make sure they report this to their financial institution and to the police as well as soon as possible to ensure no complications arise later on down the road.

Consequences of having bad credit in Chester County, PA

It is vital to have good credit if a person wants to enjoy easy finances and if a person wants to increase their chances of becoming financially stronger.

When a person has bad credit, they will find it almost impossible to apply for new credit. They will also have to suffer high-interest rates and deposits if they are not approved for credit. If they intend to rent out a vehicle, they will have to put down higher deposits and pay higher car insurance premiums.

The good news is that a person does not just have to accept their low credit score, but they can take practical steps to have their credit boosted. One of the steps they can take is to speak with a credit repair specialist to have their report examined and the controversial items on it contested with the credit bureau to ultimately improve one’s score.

Speak with a credit repair professional at Coulter Credit today to start repairing one’s credit.

Reach us at:


Toll-free: 877-582-3720

Direct: 610-350-4683


[email protected]


623 N. Pottstown Pike Suite B, Exton Pa 19341


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