Having poor credit can effect your life more than you think. Anytime you apply for some sort credit (loan, mortgage, credit card, etc.) the creditor reviews your financial history. The best case scenario when you have bad credit is that you get approved for the loan or card, but pay extremely high interest rates. However, on the flipside your application could be denied which can be major burden in a financial emergency.

Having bad credit could also hinder your ability in getting a new job, especially in the financial sector. If an employer finds out you have a host of negative marks on your credit report, they are less likely to employ you in the financial responsibility of others. New landlords also look at your credit report when you apply to rent a new house or apartment. The more negative information they find, the less likely you will be chosen as a renter.

You can save thousands simply by improving your financial profile. Consult with a credit repair company (National Credit Care, Continental Credit, Lexington Law) for credit restoration services and learn how to fix your credit for the long haul. These companies sift through mountains of information to find the right plan for you, saving you time and money.