Is the Puyang Haoxuan credit report a scam?

Yes. The Credit Information Center of the People's Bank of China is the national unified personal credit record management department. Bad personal credit records will be retained for five years and will not be cleared just because of payment.

So don’t believe any third-party platform that says it can delete bad records, don’t pay the other party, don’t be deceived, no third party can delete bad credit records.

1. Credit repair and whitewashing scams targeting untrustworthy groups. This type of scam opens businesses or publishes advertisements in the name of "credit repair, whitewashing, and bill removal" and "objection complaint consultation and agency." There are Some charge high fees and then lose contact. Some instigate individuals to use "non-malicious overdue" reasons to make unreasonable complaints, or use illegal means such as false materials to modify bad information. Usually, no refunds are given or contact is lost after the modification fails.

Reminder According to regulations, credit reporting agencies will retain personal bad information for 5 years and automatically delete it after 5 years. If an individual believes that there are errors or omissions in the credit report information, he or she has the right to request correction without any charge. "Credit repair" is unreliable and suspected of violating laws and regulations.

2. Credit investigation training and examination fraud. This scam uses the slogan of cultivating credit investigation and credit repair professionals, and falsely claims to teach credit investigation and credit repair skills or provide credit investigation repair engineers and credit information managers. Training and certification services are actually used to defraud high fees or personal information.

Reminder: The certificates of credit repair specialists and credit management specialists are not recognized by the Ministry of Human Resources and Social Security and are not legal. There is no such thing as "repair" in the credit reporting field.

3. Credit investigation franchise agency fraud for entrepreneurial people. This scam uses the large demand in the credit investigation market and the prospect of money as an inducement to start credit investigation related businesses through agency and franchise methods. In fact, it is: Defrauding agency and franchise fees.

Reminder According to regulations, the establishment of a personal credit reporting agency must be approved by the People's Bank of China, and no organization is allowed to engage in corporate credit reporting business through franchise, agency, affiliation, etc.

4. Consumer installment fraud In the process of purchasing electronic products such as cars or mobile phones, scammers use the reason that the credit report is overdue and cannot get a loan, and use the excuse that there is no need to check the credit report to induce customers to apply for it on a third-party loan platform "Instalment purchase" of personal consumption loans is actually to achieve the purpose of defrauding high loan interest.

Reminder: The credit report is only a reference for bank lending. Overdue information does not necessarily mean that the loan will be rejected. Consumers should be familiar with and master their own credit report information and handle any business involving funds with caution.