Your credit score sums up your financial stability. Achieving a good credit score is a marathon and not a sprint. You have to work towards maintaining it at all times.

Your credit score takes into account your credit utilization, payment history, new credit applications, length or credit history, and the credit mix you use. Any negative items on your credit report bring down your credit score. It’s essential to work towards improving your credit score after a negative item.

What is a negative item?

A negative item on a credit report refers to negative information that brings down an individual’s credit score. It’s common to make mistakes that lead to negative items being listed on your credit report when you are in the early stages of understanding the system.

Here are the various negative items and how long they will stay on your credit report:

Hard inquiry

A hard inquiry is when lenders request information about a certain induvial. They do so to determine the credit worthiness of that individual and whether or not they should be granted credit. Hard inquiries are sent for those individuals that a financial institution isn’t too sure about. Too many hard inquiries by various financial institutions reduces your credit score and reflects badly on your financial position too.

Hard inquires stay on your credit report for up to two years. They aren’t necessarily considered negative items, but it can deter certain lenders.


Late payments and missed payments on a loan result in a lender employing the services of a collections agency. The collection agency takes on your debt and then gets in touch with the debtor. Delinquency can remain on a credit report for up to 7 years and is one of the most damaging items to have on your credit report.

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To avoid such a situation, make sure you are taking on debt with a steady stream of income in the future too. Don’t take on debt if you’re considering switching jobs. Make sure all repayments are made before the due date. If you’ve gotten late on a payment or two, contact the creditor and inform them, ask them to not state this late payment as a delinquency.


When a creditor has to write off a debt because a client can no longer pay it due to extreme financial distress, it is known as a charge-off. Charge-offs are another negative item that reflects poorly on your credit and stays on your credit report for 7 years.

If you’re considering taking on debt, get in touch with our experts at Masters Credit Consultants first. We are a credit repair company that can help you rebuilt your credit for better debt terms. We also provide credit analysis in Spartanburg County to help you improve your financial position. Call 1-844-620-8796 for more information about our services.