What is Hurting My Credit Score?

What is Hurting My Credit Score?

Credit scores can be frustrating. You may have heard how important your credit score is but are not sure why. Others may have also warned you about what can hurt your credit score. Knowing all this is essential for your financial future when you want to make certain purchases or save money. However, if you are having problems related to bankruptcy, consider asking a Chattanooga bankruptcy attorney for help.


You might be wondering what the big deal is about your credit score. The reality is that your credit score determines what financial deals are eligible for and whether you can make certain purchases. Specifically, your credit score will be used for:

  • Bank loans
  • Credit cards
  • Insurance

The higher your credit score, the better chances you will have at lower interest rates on credit cards and bank loans. Low credit scores may prevent you from being able to obtain a loan or credit card. In many cases, you will not be able to purchase a house or start renting an apartment with a bad credit score.

Not only is your credit score used for financial deals, but also for whether you can be trusted. Some insurance companies and jobs may not take you on if your credit score is too low. You may find yourself struggling financially as a result.

It is important to know what can hurt your credit score to avoid this. The main factors that impact credit scores are how well you are paying debt and how many accounts you have. Whether you are paying off debt or monthly bills, the way you do this matters. Missing a payment or making late payments can hurt your credit score.

Falling into delinquency on your debt payments and having collection agency actions against you severely harms your credit. The more accounts you have with credit cards and loans, the harder this becomes.


Knowing how to improve your credit score is equally as important as avoiding what can hurt your credit. The main ways to repair credit scores include:

  • Paying bills on time
  • Making extra payments on debt or bills when possible
  • Close newer, not older credit accounts
  • Pay maxed out cards first

Do not panic if you are going to miss a payment. The best thing you can do to save your credit is to contact your creditor. Explain your situation and why you cannot make the payment on time. A new payment plan can be set up that will prevent you from falling into bad credit.

If you find yourself forgetting payments, make a planner or set up reminders on your phone. Do whatever works best for you.


No one wants to deal with impending bankruptcy, but you may not have to deal with this alone. All you have to do is call us at Tom Bible Law by dialing (423) 690-7712 today for a consultation about your case. Our legal team of Tennessee bankruptcy lawyers can help you assess what bankruptcy options you have. You can find us located throughout the Tennessee cities of Chattanooga and Tullahoma.

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