A credit report is a detailed summary of your credit and financial history prepared by the credit bureaus. It shows:
• All your current and past credit accounts
• Your payment history (on-time, late, or missed payments)
• Any defaults, judgements, or legal actions
• Your debt review status if applicable
• Your credit score
You are entitled to one free credit report per year from each credit bureau. Understanding your credit report is important when assessing your debt situation.