My question is, why only rarely you hear people talking about poor credit?
Surely, bad and poor credits have a lot in common...
How come, you might have asked. Because, your bad credit score originates from poor credit practices. Late repayments, excessive borrowing, lack of financial discipline, etc. No, they don't teach it in schools... life lessons are needed.
It starts from a small default on you cell phone bill. But, the real damage lies in you beginning to accept the reality, where you "can" not pay on time.
From there, the next step is a loan application for $5k too much; well above your ability to service the debt. Next, defaults and visits from the sherif's office. And before you know, you're facing the court and the lender...
Considering the short distance between poor and bad, one can never be to mindful when borrowing a dollar...
