If you are sincerely interested in improving your FICO credit score, bankruptcy MUST be avoided! Bankruptcy is more negative than late payments or collection accounts.
Your credit report includes a lot of information about your credit behavior and financial situation. This information exceeds the purpose of the credit score and gives a lender a wider idea of how risky is dealing with you as a borrower. However, the credit score gives them a first glance and is especially useful if there is not much time to analyze the rest of the details.
Where Does the Information Come From
All the information contained on your credit report is reported by creditors, banks, and financial and commercial institutions that have done business with you at any time.