With the average FICO credit score estimated at 690 (the highest possible score is 850), chances are most Americans wouldn’t mind some advice on how to improve. Of all consumers, just 25 percent have managed to achieve a score of 785 or higher.

One of the pre-filing requirements involves obtaining a certificate of successful completion of credit counseling with a government approved counseling agency. The counseling can take place up to six months prior to filing. If time is of the essence in filing for bankruptcy protection and you have not completed the counseling sessions, this can cause delays and problems so don’t wait until the last minute.

So, what is a FICO Score? It’s a number that is formulated based on your credit history helping lenders evaluate your credit risk. Your FICO Score is used to determine credit offers and interest rates — and now it’s free for you to view.

Collection agencies can be found in two different forms: in-house collection and third-party collection. The in-house collection agencies are most often the billing department for a credit agent or large firm which offered time payments. These are used to collect money while keeping the collection costs low and within the company. Most often this will be the first collection attempt you will come across.