Credit reports are documents that store pertinent information about your credit history. If you have a bad credit rating and apply for a loan the lenders, they normally will request copies of your credit report. 

Once they see that your credit is low, you will probably get a "sorry, we can't help.' It is important to keep your credit rating high, since this is the solution for getting what you want in life. Otherwise, you are going to be out in left field trying to find a solution to survive. 

Once you apply for a loan and get your credit reports free, you need to make sure to scope out the report carefully to see where the problems rest. If you notice any charges on your credit, report that looks suspicious be sure to apply for an application to dispute the charge. If you dispute the charges, you are taking charge of your credit, building your future, and repairing the issues at the same time. If you notice any charges that may have been overlooked when the bills came, be sure to take care of the charges right away. 

It takes a few minutes to mess up a life, but it takes a lifetime to restore a life. It is important to build or repair your credit rating, since nowadays you practically need perfect credit in order to get a home, car, personal loan, and so on. If your credit has any negligence almost everyone will turn you down.