The Credit Field Guide
What Do the Account Statuses on Your Credit Report Mean?
Understand common account statuses without assuming that a negative status is necessarily an error.
Use your credit report as a record to verify. Review identifying information, account ownership, balances, statuses, dates, payment history and inquiries. Differences among reports do not always mean something is wrong, but inaccurate or incomplete information deserves investigation.
A practical review
- Make sure the identifying information belongs to you.
- Review each account and its reported status.
- Compare balances and dates with your records.
- Look for duplicate debts or accounts you do not recognize.
- Flag anything you believe is inaccurate or incomplete for a closer review.
What not to assume
Do not assume that every negative item can or should be removed. Current CFPB guidance says accurate negative information generally cannot be removed simply because it hurts your credit. If the information is accurate, the next step is usually different from the dispute path.
Continue through the field guide
Primary sources
Last reviewed: October 2, 2026