A negative credit history can keep you from achieving some of your most important goals, like buying a house, renting a better apartment, or getting a job. Some businesses will still extend services to you despite your negative credit history, but they may charge you more for the additional risk you pose.
You're not completely powerless against a negative credit history. In fact, there are several things you can do to raise a bad credit score. Worst case scenario, you'll have to wait out the credit reporting time limit. Don't give up on your credit history until you've tried a few proven tactics of improving credit scores. Check out: What to Do About a Negative Credit History
Credit Repair Resources: Strategies to Remove Negative Credit Report Information | Credit Repair Checklist | 9 Things That Boost Your Credit Score