The Term "Key Derogatory"
“Derogatory” is the term used to describe negative information that is more than 180 days late. Accounts that are less than 180 days late are referred to as “delinquent.”
Derogatory accounts can include but are not limited to collections, charge-offs, foreclosures and repossessions. Settling a debt and not paying it in full as originally agreed is a serious negative issue and would therefore be described as derogatory as well, this is why it is best to negotiate the removal of the negative listing all together when negotiating the debt, other wise paying that debt did nothing to help your credit.
Public record can also be considered derogatrory. Public records consist of: bankruptcy, tax liens, and judgments.