What are the causes of bad credit, such as missed or late payments, defaulted loans, or high credit card balances?

Yes, that's correct. Missed or late payments, defaulted loans, high credit card balances, bankruptcy, foreclosure, and collections are some of the common causes of bad credit. When you fail to make timely payments or default on a loan, it negatively affects your credit score. Similarly, if you have high balances on your credit cards, it can indicate that you are overextended and may not be able to make payments on time, which can also lower your credit score. Bankruptcy and foreclosure can also have a significant impact on your credit score and may stay on your credit report for several years. Finally, having accounts in collections can also lower your credit score, as it indicates that you have not been able to pay off your debts.