How long does it take to eliminate overdue loan records?

Serious loan overdue records will take 5 years to be eliminated, but some unintentional overdue records will be eliminated based on the corresponding circumstances. The "Credit Reporting Industry Management Regulations" stipulate that the credit reporting agency's retention period for personal bad information is 5 years from the date of termination of the bad behavior or event; if it exceeds 5 years, it shall be deleted.

The following article will take you through the specific overdue standards. 1 day overdue

If you apply for a credit card without time tolerance function, you must remember to repay the loan in time. Otherwise, the bank will impose penalty interest on you if you are 1 day overdue, and will also Upload overdue records to the personal credit reporting system and they will be marked as "1" in the personal credit reporting report (the explanation of the mark is attached), and you will receive collection text messages and phone calls. However, if the repayment is made in time, the repayment record for the next month will be marked as normal repayment: "N" (the explanation of the mark is attached). 1-3 days overdue (overdue within a grace period)

A grace period means that on the day when the credit card repayment is due, if the cardholder fails to repay on time, the bank will give the cardholder another grace period, usually 3 days. Tolerance means that after the due payment, the cardholder fails to repay in full. If the unpaid amount is less than or equal to a certain amount stipulated by the bank, it should be regarded as full repayment, and this part of the unpaid amount will automatically be credited to the next period. bill. The grace balance due in the current period is generally 10 yuan.

If you have a credit card with time tolerance function, don’t worry. If you are only 1 day overdue, most banks will think that you have forgotten to repay the payment and adopt a more tolerant attitude. Therefore, if you forget to repay your credit card and make up for it within the repayment grace days, the bank will still treat it as normal repayment. Once the repayment grace period is overdue and exceeds the repayment grace days, you will be charged all overdue interest fees (if the repayment grace days are 3 days, repayment within 3 days will be regarded as normal repayment, and no interest will be incurred, but repayment on the 4th day will be considered as normal repayment. Interest will be charged on the payment from the date the bank records it). Therefore, one thing to note is that before applying for a card, you need to understand the rights and interests of the credit card you apply for and whether it has the time tolerance function. 91 days overdue

If you are overdue for 91 days or more in a row, your credit report will be marked as "4" (the explanation of the mark is attached). At this time, the bank will think that you are deliberately defaulting on repayment. This will not only be blacklisted by the bank and regarded as a malicious loan, but may also be blacklisted by the court as a dishonest person. Work, life, travel, accommodation, financing and other aspects will also be affected, such as restricting entry and exit; restricting certain driving behaviors; freezing driver's licenses, restricting annual driver's license inspections; restricting high-consumption behaviors and other punitive measures