Sense & Centsibility Blog
Person writing in notebook.  Graphic of Credit Score on laptop screen

How full is your credit bucket?

We are fortunate at LSS to have experienced financial counselors with a lot of personal finance knowledge. Luckily for me, our wonderful counselors sometimes pass on nuggets of wisdom that I can then turn into blog posts.

Here is a great way to think about credit from counselor, Dan Park:

The Credit "Bucket"

Think about the credit bucket metaphor. The idea behind the credit bucket is that the fuller your bucket, the better your credit.

Holey Buckets

If you have any accounts that are charged off, in collections, in past due status, those accounts can be considered poked holes in the side of your bucket.

This means that even if you were to put more positive credit into your bucket, the holes are going to be a constant drain. They will prevent your bucket from getting fuller aka for your credit to improve.

Plug the Holes and Fill Up Your Bucket

It's crucial that you get the holes filled asap! Paying off collection or charged off accounts and getting past due accounts current is the best way to plug up those holes. Once you do that, the bucket can fill up again. That means your credit will start to improve.

Keep in mind that your score won't increase overnight. However, by continuing to make on-time payments, pay down debt, and avoid the accrual of more debt, you will make more progress faster.

Need Help?

If you have a lot of holes in your bucket and aren't sure where to start, LSS Financial Counseling can help. You should pull your report first (for free) from

Then, call us at 888.577.2227 for your FREE financial counseling session. Want more info? Visit our website to find out more about how we help people take charge of their finances and achieve financial goals.