If you are routinely late on your payments, or have defaulted on a loan or two, there is no mystery as to why your credit score is so low. All credit is a type of loan. If you do not pay back your loans in the agreed upon timeframe, it will adversely effect your credit rating. That lets the next potential lender know that you are a bad risk. That does not mean that you will never get another loan. There will always be someone willing to loan you money. Rather, it means that the terms of your next loan…



