How to Get Bad Credit

If you are in the market for a BHPH car loan, then you probably have bad credit. So, you’re wondering how to get bad credit? Below are great ways to further impair your credit score. (Word to the wise, do the opposite of the following.)

1. Don’t Pay
If you don’t pay your bills, then your account could be charged off and creditors will pursue you diligently. Even if your account is closed, you can still damage your credit by not paying your bills. To get courts involved, don’t pay spousal support and/or child support, which could get you arrested and sued for the payments you missed.

2. Late Payments
This is a great avenue to destroy credit. By paying bills late, your score will drop dramatically. Over a third of your credit score is payment history. To increase late charges and negative credit reports, do not set credit reminders and overcharge beyond your means on all your credit cards.

3. Credit Applications
Apply for all types of credit cards that you’ll never use for promotions and discounts. You’ll have numerous credit inquiries which will show creditors that you’re a risky client.

3. Loan Default
Don’t pay loans that are due. For example, don’t pay your auto loan and get your car repossessed. This is an excellent action to plummet your credit score, and it could put you close to bankruptcy, especially if you default on your home loan!

4. Maximize your Credit Cards
Charge the maximum amount on all of your credit cards. By charging the maximum, your debt-to-credit ratio will skyrocket. Creditors do not fancy high debt-to-credit ratios, and your credit score will reflect their lack of admiration.

5. Don’t Pay Parking Tickets
Parking ticket, forget about it! This is a bill like any other. Avoid paying parking tickets and fines will stack up. These fines could be sent to a debt collector, and this means your credit score drops.

6. Closed Credit Cards
If you think you closed your credit card, which has yearly fees or a pending balance, but it’s still active, it’s still your neglect. Active “closed” credit cards will lead to fees, charges and another drop in your credit score.

7. Get Evicted
Timely rent payments do not help your credit score. However, missing rent payments until you get evicted will hurt your credit. As a bonus, an eviction could hurt your ability to rent another apartment or house.

If you follow all of the above advice, you should be able to drop your credit score significantly. Let us know if you have any other brilliant means to destroying your FICO score.

Disclaimer: Destroying your credit score is not recommended as it will lead to serious financial stress. Depending upon your chosen path to credit collapse, you could end up with criminal charges.

Guest post by Rian Taylor, BHPH marketing expert at DRIVE 1 AGAIN Used Cars in the Denver, Colorado metro area. Follow her on Google+