Your credit score is not necessarily a true picture of whether or not you are financially responsible.
It is just based on statistics which the credit bureaus use to decide whether or not you are a good financial risk in their eyes.
These statistics show that people who have a lot of loans are likely to miss payments more often than people who only have one or two loans.
So if you have a lot of loans you are likely to have a lower credit score.
Before you can begin to fix your bad credit history you need to get a copy of your credit report.
This can be obtained for free from the credit bureaus.
The credit bureaus are Experian, TransUnion and Equifax.
You can contact them by writing to them or by using the telephone or e-mail.
You are entitled to one free copy of your credit report every year from each of the three credit bureaus.
If you want to have a good credit score then try not to take on more credit than you are able to comfortably pay off.
You should be able to pay all of your bills and debts regularly each month.
You should only take on new loans or credit cards when you absolutely need to.
Each new loan or credit card application results in an enquiry on your credit report and repeated enquiries in a short space of time can negatively affect your credit score.
If you are serious about repairing your credit then you need to have a plan and to take action on it as soon as possible.