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It could be very stressful living under a bad credit history. There are times when immediate cash is needed to answer for some emergencies but you get denied for the loan- the only possible option that you have. But does a person incur a bad credit history?

When a person has a lot of unsettled dues or a most of his debts are paid late, it could affect his credit score or reputation. For businessmen, they could have a bad credit history when bankruptcy is declared or filed. This would mean to say that a company is already unable to pay its dues to its creditors.

The worse effect of having a bad credit history is as mentioned earlier the loss of trust financial institutions to finance you die to your reputation. But you can`t be in the scenario forever. It usually takes seen to ten years before the bad history is eliminated from your records but this should not despair you that much for there are some ways on how you could fix it.

Have a copy on your credit report. Sometimes there are erroneous entries on it so it is better that you regularly monitor then so in case disputes are fond, they could be acted upon the soonest possible before farther damages are made. When an error is found, waste no time contacting the credit bureau for immediate fix.

If you have a lot of unsettled dues, repay them as long as you can. The better way to do it is paying off the ones which has the highest interest so it would not be incurring more.

If you think that you can`t fix the problem all by yourself then there is nothing wrong having the help of a non-profit credit counselor or organization. Credit experts will help you consolidate all your existing debts by contacting with your creditor to eliminate or at least lessen the charges. Doing so can help you reduce your monthly repayment amount by up to forty percent.

It might not be the easiest thing to do but close some of your cards and cut out on your spending. Also, you can try to sell or liquidate some of your properties to help you repay for your debts.

But above all this, be it a lesson to everyone at how bad things can go wrong when money or business is not handled properly.