What Determines A Bad Credit Score?
There are a few reasons why your credit score may be low, including failing to make payments on time or at all on credit cards or loans with late payments of 30, 60, and 90 days, declaring bankruptcy, receiving a consumer proposal, or even defaulting on government loans such as student loans. If any of these things have occurred, your credit score has likely dropped significantly and may be around 560 or lower. It might be tough to obtain loans when you have poor credit, but it is not impossible. People with low to no credit can get bad credit loans.