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The very word 'credit' means recognition or approval, so when you have a Bad Credit History, it quite logically implies, that you are recognized as 'not approved'. While talking about this subject here, the reference goes to borrowing money and not returning it, as mutually decided between the two or more that are involved. This could be an individual and an institution, or it could also be two or more institutions borrowing from or lending to each other. The time frame of returning the money borrowed and the terms of repayment of loan availed, have to be honored, failing which the lender marks, the borrower in the list of Bad Credit History.
How a person or a company has been borrowing in the times gone by and what were their repayment pattern versus the mutually agreed upon arrangement, is something that is considered automatically by the passage of time, in anyone's credit history. The credit bureau has made it mandatory to receive all applications that are filed by the individuals or the companies at the time of applying for loans. Whether it is the bank, or the credit card company, all have to forward this information to the 'Credit Bureau'. The data that these money lenders file with the credit bureau must be as precise and accurate, so that correct information about the applicant can be retrieved from the details retained by the credit bureau in their records.
Bad Credit History cannot be camouflaged by any means. This information is used by these money lending institutions, credit card companies, etc., to evaluate the credibility of the applicant and how willing he is to payback the credit that he avails. There are certain moneylenders, who would give you some bonus time, but the promise thereafter, has to be kept. You may apply for loans and re-loans without paying off as terms decided, but your Bad Credit History, can quite almost disqualify you from this facility. Most of the times all money lenders, prefer repayment of loan given, along with rate of interest attached to it, on a monthly basis. There are many ways, to correct the damage done to your credibility, provided you are willing to take the time to fix the problems.
There is a possibility of undoing the harm done by ways of discussing your case with a financial advisor or Advocate. In fact, you must contemplate reducing the number of credit cards in your wallet. Your repayments must be on time. You could request help from any of your family members to co-sign for you. This would improve your credibility with your lenders. Any superfluous account, not required should be requested closed immediately. With Bad Credit History, there is a chance that you might have to keep something as collateral to secure a loan for yourself. The rate of interest could be higher than normal too. All said and done, if you have availed a loan, you are bound on many grounds, including, ethical and moral, to repay it.