Negative Flags in your report is a proof of some past mistakes which can ruin your future plan. Regardless of the fact that the negative error occurred due to your mistake or negligence on part of Credit Bureau, you must take measurable action to rectify it because credit report affects the most important financial measure one can have, that is the credit score. A Credit Score just does not affect the ability to get a loan or credit card but also determines the interest rate that you pay them.
- There are total Seven Negative Flags i.e. issue or pain points which can have the ability to ruin your creditworthiness.
- These are factors which are the reason for lower Credit Score.
- There are chances to have more than one Negative Flags in one Credit Report.
Let’s go further and discover seven negative flags which can affect your credit history and credit score.
Types of Negative Flags
6.17.1.1 Current Balance (Old due)
- Overdue
- Settlement
- Post (WO) Settlement
- Written–Off
6.17.1.6 Willful Default
6.17.1.7 Suit Filed
