Contrary to what you might hear from some people, it is viable to remove bad credit. In some cases it can be completed swiftly and in others it can take some time, but no matter how derogatory your credit score report may be, you should never give up hope of re-building your score report.
It is always worth understanding what your report is reporting with reference to you even if you think you have good credit. You never know, there could be a blooper that could deter you from getting a mortgage or financing when you need one, or cause you to have elevated interest rates than you ought to be shelling out.
Occasionally having a derogatory score can stop you from receiving insurance at a good rate, or in some special cases it might even lead to you being turned down for a job.