When it comes down to your credit report, each item is weighed differently when it comes to affecting your score.  For example, a late payment on $25 isn’t going to be as rough as filing for bankruptcy.  If you’re curious on what affects your credit score the most when it comes to negativity and your reports, here’s how it stands in order.

Bankruptcy:  Obviously, this is the grand daddy of them all.  When you file bankruptcy, you’re going to hurt your score for at least 7 years.  This should always be your last resort.

Foreclosure:  Foreclosing on your home is up there with bankruptcy but it isn’t as bad.  If you can’t pay for your home, how are creditors going to trust you when it comes to other bills?

Repossession:  Just like a mortgage, if you can’t pay for a car, boat, RV or whatever it may be, creditors are going to view this like a home but not as extreme.

Defaulting on a Loan:  When you can pay a loan, this shows that you either don’t want to pay it or you don’t have the money.  I hope you don’t have the money.  If you can’t pay a loan, expect a hard hit on your credit score.

Collections:  If a lender is out there to get money from you, this is going to show up on your credit report.  You better either pay it off or its going to affect your score for a while.

Past due payments:  If you forget to pay a bill or you’re constantly late on your payments, this is going to bring your score down.  If it happens once or twice by mistake, it will usually not show up depending on the creditor.

Credit Inquiries:  This is a minor one but it can bring your score down just a tad.  If you have companies constantly looking at your credit report, it shows that you’re looking to get new credit.  The more credit you have available, the more you’re at risk.

When it comes to importance of what affects your score and what doesn’t, this list should give you a better understand on whats going to lower your score the most.  Keep in mind that all of them are bad and you want to avoid them but if you have no choice, you will most likely see a lower credit score.