Several folks have posted advice to forget about the bad credit. In fact they suggest one rack up more bad credit if they can. Live in the moment, they say. When you are an old fart (like me) you'll have magically rebuilt your credit anyway. Interestingly enough, there are plenty of old folks with bad credit too.
Believe it or not, sooner or later, everyone pays the piper. One of the reasons the economy tanked is because people lived on borrowed money which they couldn't pay back. I know folks, young and old who borrowed against their homes in amounts which not only exceeded their ability to repay the loans but amount that exceeded the value of their property. Now they are either living in their cars, a shelter or if they are lucky some lack luster rental.