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The Surprising Ways Your Bad Credit Can Hurt You

repairing credit scores

We all know about the consequences of bad credit. You cannot get a credit card and you have to pay higher rates on your mortgage. If those are not good enough reasons to repair your bad credit rating, we are going to give you some more. Bad credit can hurt you in a number of surprising ways. These are some of the main ones. A Lack of Mobility  When Hurricane Katrina destroyed New Orleans, many people suffered simply because they could not escape the destruction. The reason they could not escape was that they did not have the funds to do it. For most people, the hurricane struck days before their next paycheck. Some people literally died because they did not have enough funds to evacuate the area. Many of the city’s poorest did not have credit records that enabled them quick access to capital, and so they were trapped in the city. Costly Car Insurance  In some states, it is illegal to relate reckless driving and paying your bills on time. In the states where car insurers can make this correlation, they have jacked up the rates for people with bad credit. You need car insurance to drive in ...

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