Zhongyuan Consumer Finance Credit Check

In recent years, with the continuous improvement of the credit reporting system, personal credit reporting, as our economic ID card, plays an extremely important role in our daily lives. As people's understanding of credit reporting continues to increase, some criminals use the banner of "credit reporting repair" and "credit reporting cleansing" to induce consumers to entrust them to handle credit reporting complaints, reports and other matters. Taking advantage of consumers' eagerness to eliminate overdue records and misunderstandings about the concept of "credit report repair", they created one

In fact, there is no such thing as "fixing" or "whitewashing" in the field of credit reporting. Any "credit repair" that claims to charge legitimate fees is a scam, and no one has the right to delete or modify credit records at will. There are many tricks behind the so-called "credit repair".

"Credit repair" routines are deep

On the eve of the Spring Festival in 2023, Zhongyuan Consumer Finance joined hands with the Shangdu Road Police Station and Haima Park Community in Zhengdong New District to carry out offline anti-fraud publicity activities, and got to know a Ms. Wang was almost "repaired" by her credit report.

Ms. Wang usually uses credit cards for purchases. She was very busy at work for a while and forgot to pay back her credit card several times. After she discovered that it was overdue, although she repaid the loan as soon as possible, she still felt uneasy and worried that it would affect her credit score. By chance, she saw someone in her circle of friends saying that her credit report could be repaired, so she contacted the person.

A volunteer from the Zhongyuan Consumer Finance Consumer Rights Protection Service Group told Ms. Wang that there is no such thing as "credit repair" in the field of credit reporting. All "credit repair" claims that charge legitimate fees are not credible, and no one has the right to delete or modify credit records at will.

By "tricking" consumers, criminals get them to pay a certain fee and provide personal information. In the end, consumers failed to achieve the purpose of "credit repair", resulting in property losses and personal information leakage, bringing greater trouble to themselves.

Dong Ximiao, a part-time researcher at the Institute of Finance at Fudan University, said that so-called credit repair agencies actually force financial institutions to make concessions through illegal and malicious complaints. If this method is successful, it will lead to distortion of credit records and affect the objectivity, independence and authenticity of the entire credit reporting system.

Zhongyuan Consumer Finance would like to remind financial consumers that when encountering a situation similar to a "credit repair" claim, on the one hand, they should learn credit reporting, guarantee and other financial knowledge through formal channels, and do not trust the other party's promises easily ; On the other hand, refuse to participate in illegal activities such as fabricating false information. Don't take chances, and avoid losing your "property" and "credit" because of small things.

What should I do if I have objections to the credit report?

The credit reporting system is a database established by the state to record consumer credit information. Credit transaction information between consumers and financial institutions, as well as other credit information, are recorded in this system. Overdue records on personal credit reports will be kept for 5 years after the outstanding debts and interest are paid off.

Financial institutions will evaluate an individual’s comprehensive situation when approving a loan, and personal credit report is not the only basis. In addition, if there are special circumstances that cause personal adverse information, you can also apply for a declaration of adverse information. During the storage period, the credit bureau will record it.

The "Regulations on the Administration of the Credit Reporting Industry" issued by the State Council in 2013 stipulates that if the information subject believes that the information collected, stored, and provided by the credit reporting agency has errors or omissions, he or she has the right to file a complaint with the credit reporting agency or information provider. Raise objections and request corrections. After verification, if it is confirmed that there are errors or omissions in the relevant information, the information provider and the credit reporting agency shall make corrections; if it is confirmed that there are no errors or omissions, the objection mark shall be canceled; if the verification cannot be confirmed, the verification and objection shall be recorded.

Crack down on credit reporting and repair “grey and black industries”

In order to curb illegal activities in the financial industry, regulatory authorities are making continuous efforts. In November 2021, the China Insurance Regulatory Commission issued a report on Brazil

In fact, improving individuals’ awareness of credit information and promoting the construction of the social credit system is a long-term task. In order to cut off the chain of "credit repair" illegal industry, the financial industry urgently needs multi-party linkage to form a joint force to continue to effectively crack down on illegal financial industry and protect the legitimate rights and interests of consumers.

As the only licensed consumer finance company in Henan Province, Zhongyuan Consumer Finance has been actively fulfilling its social responsibilities and bringing more financial knowledge to financial consumers through innovative financial products and strengthening the popularization of financial knowledge to help maintain A healthy financial market environment further protects the "money bags" of financial consumers.

Zhongyuan Consumer Finance uses its own risk control technology and technological support capabilities to reconstruct product logic, upgrade innovative services, and take the lead in the industry to launch the concept of "loan cooling off period". For users who have no loan experience, it introduces the right to "repay without reason within 7 days" for their first loan. In other words, a "7-day cooling off period" is set for new citizens who borrow impulsively or have no experience in online lending, giving them the right to "regret" once. Zhongyuan Consumer Finance hopes that through this method, financial consumers will have a financial lending buffer and safety valve, which will not only encourage consumption but avoid irrational credit, and call on financial consumers to be honest and trustworthy, actively perform contracts, and maintain a good credit record.

In response to the "credit repair" chaos that exists in the market, Zhongyuan Consumer Finance has established a special governance working group for "credit repair" chaos, actively participating in special governance actions, from smoothing channels for accepting objections, blocking " Starting from aspects such as "credit repair" chain and ensuring the quality of credit data, we can fundamentally eliminate the living space of illegal agents.

Cracking down on credit reporting, repairing black and gray industries, and maintaining financial market stability are challenges to the development of the entire financial industry and the construction and upgrading of my country's credit system.

In the future, Zhongyuan Consumer Finance will continue to work together with regulatory authorities, police and financial consumers to take multiple measures to crack down on financial illegal industries, jointly improve the ecological environment of the financial market, and fully protect financial consumers. Legitimate interests. (Zheng Miaoge) Related Q&A: How many days will Zhongyuan Consumer Finance be overdue? Zhongyuan Consumer Finance is connected to the People's Bank of China's credit system. As long as you apply for a loan at Zhongyuan Consumer Finance, the loan record will be on the credit report. As for the overdue records, it will definitely be Check for credit at the meeting. After the user is overdue, he can first pay off the debt and then contact Zhongyuan Consumer Finance. If the overdue record has not been uploaded, there is an opportunity for redress at this time. As for the overdue records that have been uploaded, after the user pays off the overdue debt, the overdue records will only be retained for 5 years, and the overdue records will be automatically deleted after 5 years. : What is personal credit reporting? Credit reporting means that each bank hands over the credit information it holds about an individual to a specialized agency to compile it. This specialized agency creates a "credit file" (i.e. personal credit report) for the individual, and then Available to all banks. This kind of activity of sharing credit information between banks through third-party institutions is credit reporting. The purpose is to improve efficiency, save time, and get things done faster. With the intervention of credit reporting agencies and credit reports, when an individual borrows money from a bank, the bank loan officer can check the individual's credit report with the individual's consent. After spending some time to focus on verifying some issues, it will be very easy. Please tell me quickly whether the bank will provide you with a loan. Save trouble for the bank and worry for the individual. If there are any of the following behaviors in your personal credit record, you are likely to be rejected when applying for a loan from the bank. 1. There is currently an overdue loan. If the borrower has recently had an overdue loan when applying for a loan from the bank, it will be difficult to apply for a bank loan. Whether it is a bank or other lending institution, they hope that the loan issued can be recovered in time. Be wary of overdue behavior. 2. Three in a row and six in a row, that is, there has been overdue behavior for 3 consecutive months or the cumulative number of overdue repayments exceeds 6 times. If there are three consecutive overdue behaviors in your credit report, even if the debt has been paid off, it will be difficult to get a loan application from the bank because the bank has already doubted your integrity. 3. Excessive debt. If the borrower's debt ratio exceeds 50%, the bank will consider that the borrower does not have sufficient repayment ability and will refuse to lend in order to successfully recover the loan. However, it should be noted that different banks have different regulations on the income-to-liability ratio, and borrowers need to conduct detailed consultation. 4. The applicant’s spouse has bad credit. If a married person applies for a loan from a bank, the bank will not only review the applicant’s information, but also the applicant’s spouse’s information. If one party has a bad credit record, it is likely that the other party will fail to apply for a loan.