Having bad credit can be one of the most frustrating and humbling experiences of your life. I used to have terrible credit and this led to constant embarrassment. At the time is seemed like companies needed to run my credit for everything I had to buy. It was extremely embarrassing.

One of the harder things to accomplish when you have bad credit is getting a bank loan. This used to really frustrate me but the current credit crisis has given me a lot of perspective. When banks loan money to individuals that have bad credit, it poses  significant risk to them. If they lend to enough people who later default on their loans, they go out of business. Now that we have seen that happen to some extremely large banks, hopefully we can understand more about how the banking business works. » Read more: Getting Bank Loans When You Have Bad Credit