A credit report item is a piece of information that is included in a credit report. A credit report is a document that provides an overview of an individual's credit history, including their payment history, credit utilization, and other financial information. The term 'DEBT' is a four-letter word that is often used to describe the amount of money owed by an individual or business to another party. DEBT can be in the form of loans, credit cards, mortgages, and other forms of borrowing.