Does Having Bad Credit Make Me A Bad Person?

It seems there is a social stigma around having a bad credit score that often results in negativity directed towards the person with bad credit. For example, how many times have you heard someone utter words like ”Don’t marry him or her, because their credit score is a nightmare. You will have financial problems for the rest of your life,” or “that person only cares about material things and doesn’t live within their own means.” Perhaps you have heard someone say something like “they will never be able to get a loan, because they have bad credit.” Chances are, you’ve either thought similar thoughts, or heard someone say words that would indicate if someone has a bad credit score, it counts as a negative mark on that person.

Thankfully, times are changing, and having a bad credit score in no way can be equated with being a bad person. In fact, it’s quite the opposite. Instead of punishing people with bad credit, companies instead are looking for ways to help people with bad credit turn things around and still succeed. If you have fallen on hard financial times, and don’t currently have the best credit score, know that it’s not a black mark on you forever, and you are certainly not a bad person. Here are some tips to help you stay on your feet while you turn things around.

Apply For A Bad Credit Business Loan Instead

It’s true that if your credit score is in the gutter, you probably won’t walk out of a traditional bank with a great interest rate on a business loan. In fact, you may not even get a business loan at all from a traditional bank if you have bad credit. However, there are still many options for you. If you need capital for your small business, you can apply for a bad credit business loan from a company like Shield Funding. When a bad credit business loan company receives your application, your credit score will not be your deciding factor in whether or not you get a loan. Rather they will look at your potential to run a profitable business and help you out financially.

As you get a bad credit business loan and continually make your monthly payments, your credit score will gradually improve leaving the door open for other loan opportunities in the future.

Work On Fixing Your Credit In Other Ways

Another important thing to keep in mind is that you are not doomed forever to having bad credit. For example, a good friend of mine lived the musician life style for a long time and occasionally forgot to pay bills on time, and even didn’t pay some of his bills, and they went to collections. Years later, he got married and made it a goal and a priority to change his credit situations. He paid off his collection accounts, paid off the balances on his credit cards, and set up monthly payments all of his bills. Now, his credit score is in the 700s, and is continuing to climb.

There are many options for you if you have bad credit to both get business loans and to clean up your credit score as you continue to work. Just remember having bad credit doesn’t make you a bad person, and you can turn your credit score around at any time by making simple changes.

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