Once you are aware that your credit history is officially bad, it's time to take action and stop further damage. The faster you move to put things in order, the better are your chances to access even more helpful products from the many lenders in the market. Never be tempted to go for monetary assistance from your friends and family because you already have bad credit history. The only thing you should gain from them is advice but even this may not be so encouraged because it's likely to be biased.