how dreadful has holding a bad credit rating been in your life?

[die_rich88]

hi all,

i am a college student, 21 yrs old, currently residing in Toronto Canada. I do not know what exactly is my credit score, but I know its probably pretty bad. Just to give u an idea, I've missed payments on all kinds of bills (VISA,MC,cell phone,etc etc) I've gotten my phone disconnected once, missed 2-3 months of credit card payments probably on several occasions. I have recieved those collection warning letter /calls maybe a little too many times. I currently owe around 5000 worth of credit card debt.

My bad credit is partly due to bad finacial times and some due to simple forgetfulness ( I am really forgetful ). Howver recently I have commited myself to paying off my bills and everything on time, gets things orgainzed and everything.

My question is, how does one improve his credit rating? Or can one even do so? By that I mean, if I practise and maintain good credit for say a couple of years, does my brief history of bad credit stay with me for life despite like say improvments in terms of ratings?

Also, how much has bad credit affected your life? Does have alot of impact?

Do you guys think I should get help from those debt consolidation people? Or do you think just paying it off by myself is better?