What is the impact of overdue credit information on buying a house?

Yes, after you pay off the arrears, this overdue record will be kept for five years, and then it will be automatically eliminated.

One: As long as there is overdue repayment in the credit record, it will have a certain impact on personal credit. However, the personal credit report will not permanently record overdue information. As long as the overdue person pays off his debts and can maintain a good credit record for five years, anyone can start his credit record again.

Two. Although the overdue records will be kept in the credit report for five years, as long as the conditions are met, the overdue records that have been paid off will not affect the borrower's application for loans or handling credit cards:

(1) If the borrower's overdue time is less than three months, as long as the borrower can maintain a good credit record for half a year after paying off the debt. After paying off the debt for half a year, the borrower can reapply for a loan or a credit card.

(2) If the borrower is overdue for more than three months, as long as the borrower can maintain a good credit record within two years after paying off the arrears. After paying off the debt for two years, the borrower can reapply for a loan or a credit card.

It should be noted that the elimination of overdue records after five years means that the overdue records in the credit report are only retained for five years. The overdue records in the bank database are kept for life. As long as the bank wants to inquire, it can find overdue records at any time. Just to give the borrower a chance to turn over a new leaf, the bank will not check the overdue records of the borrower many years ago when conducting the audit.

Credit repair strategy:

1. Pay off the arrears and interest in time.

Lending institutions upload overdue records to the People's Bank within a certain period of time, usually once a month. Bank loans generally give a grace period of 1-3 days. Before the overdue records are submitted to the People's Bank of China, voluntary repayment, payment of overdue fees, and finding a loan institution to explain the reasons will all have the opportunity to eliminate overdue records and prevent them from being uploaded to personal credit information.

2. Issue a "non-malicious overdue certificate"

These Measures generally apply to bank loans, including bank loans and credit cards. Your bad information has been reported by the bank at this time. Therefore, if you communicate well with the bank, this certificate will show obvious value when you go to other platforms for loans. At present, what many intermediaries call credit recovery is objection complaint. Due to the limited space, I won't elaborate on the technology here.

3. Ensure a good credit record in the future.

If the previous measures are useless, then after the overdue debt is paid off, it will only be overdue in the future.

Note: If the credit card has a bad debt record of overdue repayment, don't cancel the card immediately, otherwise there is no chance to repair the bad record. We should continue to maintain good consumption habits and repair our credit records before closing our accounts.