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Yes, but it will be more difficult and expensive. You may only qualify for subprime loans with very high interest rates, significantly increasing the total cost of borrowing.
Living within your means and using credit as a tool—not a crutch. The foundation of a good credit history is a sustainable budget that allows you to pay all bills on time and keep debt levels manageable.
Set small, achievable milestones (e.g., paying off one credit card), celebrate progress, and visualize debt-free goals. Use accountability partners or support groups.
This varies by state and the type of debt, typically ranging from 3 to 6 years. It is crucial to know your state's laws, as this time limit is different from the 7-year credit reporting period.
Seek help from a non-profit credit counseling agency (like NFCC.org) if you: Can only make minimum payments. Are consistently late on payments. Use credit to pay for essentials like groceries. Feel constant anxiety about your finances. They can provide free or low-cost advice and help you create a Debt Management Plan (DMP).
