Derogatory entries on your credit report, such as a bankruptcy or collection account, lower your credit score and lead to lenders charging you higher interest rates on money you borrow. Derogatories can remain on your credit report for 7-10 years.

Derogatories includes late payments, charge-offs, and bankruptcies. Derogatories typically remain on a person’s credit report for seven years; but there are exceptions, including bankruptcies, which can remain for ten years.

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