The thing about life is that it can be unpredictable. With the drop of a hat your car or house could need a major repair and at the time you might just not have the money for the repair costs. Of course, you always have the option of getting a loan, but what if you have bad credit?
Bad credit follows you around like a bad smell and you know all too well that it makes getting a loan extremely tough. Every lender considers you a high risk, just because you made a few mistakes in the past. Even, if you are able to get a loan you will end up digging yourself deeper in debt, trying to pay it back due to the high-interest rates.