Originally Posted by KRL

Everybody goes through fucked up periods in their life. Could be a business failure, a divorce, identity theft, bad partners, health problems, accidents that make it impossible for you to work or run your biz, depression, etc.

I don't know hardly anyone who hasn't had bad credit at least one point in their life. Its very rare.

You just have to rebuild and figure its going to be 7 years to have all the muck cleared off.

Best thing to do is not live beyond your means. Don't buy expensive toys on credit. Only cash on those. Only use credit if you have plenty of cash reserves and can go a year with no income and just living off your savings.