How to understand the amount owed in the credit report?

If you want to know the total amount you owe, you can check the "Summary of Outstanding Loan Information" on the first page of the credit report. This summary only includes the outstanding principal balance, excluding interest and penalty interest. It can be calculated by the short version and the detailed version.

For the simplified version of the credit report, if the details of your overdue or non-overdue accounts are clear, you can calculate it yourself. For example, if a bank issues a credit card with a credit limit of 30,000, the current balance is 20,000, and it is not overdue, then the amount owed is 30,000 minus 20,000, which is equal to 10000. Add up the arrears of each account and get the total amount owed. It should be noted that the information update of the credit report is not real-time, and sometimes there will be repayment but it is not reflected in the credit report.

For the detailed credit report, the loan information is displayed in the form of statements, including the credit limit of each account, the credit limit currently used, the repayment due this month, the actual repayment this month, the latest repayment time, the current installment in loans overdue, the current credit limit in loans overdue and other data. Therefore, you can directly use the detailed version of the credit report to understand the balance of arrears. If you don't know much about the credit report, you can contact the bank staff to assist in the analysis.

It should be noted that the arrears information on the credit report may be inaccurate. Because the credit report can't be updated in real time, some online loans without credit can't be queried. It is suggested to check the corresponding lending institutions one by one. If you don't know exactly how much you owe, you can check the bank's running water one by one and confirm your loan situation as soon as possible.