Finding start-up money with bad credit isn't that much different than finding start-up money with good credit. Start-up's are risky, and depending on your experience, can be even riskier.

The fact that you have bad credit isn't as important as why you need the money for the start-up and how much you are asking for. Your total plan for being in business should be to do something that you love to do. It has to be something that you have passion for. It can't be about getting out of debt.

Your personal financial situation should have no bearing on influencing an investor to put money into your new start-up. What should be in consideration is your experience, your knowledge of the business, the opportunity to create a substantial profit in the next 3 to 5 years and what the growth opportunity is for the business among other issues.

Your need for money should not be dependent on the start-up company, in fact, they should be kept far away from each other and you need to understand that the business is a long term plan to become debt free.

Next step is to write a business plan. This process can take you several weeks if not several months. Do this first. If you can't write a business plan, you won't be successful with your business.

I'm not saying you have to have a business plan to have a successful business, but successful business owners that don't have a plan, would have been able to write a business plan, had they taken the time to do so. This is called making a calculated risk and you're going to need the plan to get funded anyway.