Most people believe that getting rid of horrible credit is not possible, and that they will have to have horrible credit for the rest of their life but that's far from the truth. At one point or another most of us have either used credit with poor judgment, or fell on hard times and unable to meet our monthly credit obligations.
This can eventually allow your credit rating to go south because your creditors report information to the credit bureaus on a monthly basis. When accounts that are thirty days or more past due hit your credit report it takes your scores south and this cycle with multiple accounts will eventually lead to a poor credit rating.
The good thing that most people are unaware of is the fact that such negative accounts have a lifespan on your credit report, they are not to remain on your report indefinitely. But on the other hand the problem is that the credit bureaus do not always remove such accounts when they reach the end of their lifeline ..
This is where knowing the laws that govern your credit and credit report become very important. The name of the law is the Fair Credit Reporting Act and understanding how it works will allow you to clean up negative as well as unverifiable accounts that are affecting your report negatively.
Once you have an understanding of these laws you can begin to challenge these accounts with the reporting agencies, Equifax, TransUnion and Experian which is best done by mail.