Got a bad credit rating? You are not alone. There are many people who are struggling to make it financially and some of them have in the past never missed a payment on anything. It is possible to change your credit rating but any legal way you go, it is going to take some time. A bad credit rating is determined by the credit rating agencies who assign a number based on many factors (some of which are unknown). The number of delinquent accounts or lawsuits taken against a person naturally accounts for bad credit rating. The number of accounts a person has open affects credit rating and the number of accounts closed by the debtor also negatively impacts credit rating. There has been a lot of speculation as to the fairness of credit scores and credit ratings as well, according to the NAACP. The fact still remains that if a person has a bad credit rating they can either live with it, or fix it. There are many scammers out there who claim to be able to increase your credit score overnight; don't you believe them. Repairing a bad credit rating takes time and effort, but it is well worth it.