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Q: Doesn't bankruptcy damage you so badly that it never makes sense, A: This is a tricky question that depends on situation. Q: Is there ever any advantage to bankruptcy on a credit report, A: Maybe, but bankruptcy is never a good thing. Q: My credit score is terrible, can it be fixed,

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I need to check my credit score and make sure that's patterned

— ḿ (@miheer7) October 28, 2018

Many people are unaware of the difference between a credit score and a credit report. Your credit score is simply a number that's generated from the information in your credit report or credit reports. Every United States Citizen who has established credit has three credit reports. One from Transunion, one from Equifax, and one from Experian. If you can develop a plan that works for you and makes sense for the lender, they may accept it and then you’ll have less debt which equals a higher credit score. You also need to figure out how much income you get versus how much you’re spending. Getting a clearer picture of your financial situation may help rebuild your credit. It’s like running a company check, except you do it yourself. Your payment history is the most important component of your credit score showing whether you can repay the money lent to you.

A: Yes, but with the caveat being that the time frame varies. If you just finished bankruptcy, forget about having a decent credit score at any point over the next year or even two. But just because you have late payments on your record for seven years, or bankruptcy for ten, doesn't mean that you can't recover during those times. Every month that passes by with you in good standing helps a little bit more, and by paying all bills on time (with a little extra where applicable), recovery can take place relatively quickly.

One must not have reservations about asking for a copy of his credit report.

Because of this possibility, it is wise to regularly check one’s score and the accompanying report in order to request for an immediate correction, if necessary. There are many reasons why credit users should pay close attention to their credit scores. A person’s credit score, after all, is a reflection of his creditworthiness. One must not have reservations about asking for a copy of his credit report. Evaluating companies do not take it against a person if he regularly requests for a report about his score. In fact, people are encouraged to seek for updates about their credit standing because doing so helps check whether there is erroneous information that was used as basis for computing the score.