Loss of credit can be a devastating experience for individuals and businesses alike. It refers to the situation when a person or organization is no longer trusted to pay their debts or provide reliable services, resulting in a damaged reputation. Here are some synonyms that can be used to describe this unfortunate circumstance: decrease in credibility, damage to reputation, loss of trustworthiness, tarnished image, diminished reliability, weakened financial standing, and impaired creditworthiness. These synonyms can help to convey the seriousness of the situation and the need for immediate action to restore creditworthiness and credibility.