How long it takes for overdue credit records to be eliminated is a topic of widespread concern. Searching for this issue online, some reported that overdue credit records would be eliminated within two years, while others reported that credit records would be eliminated within five years. Which answer is correct? We still have to discuss it on a case-by-case basis.

1. Overdue credit card bad records will be kept for 2 years

Overdue credit card records will be recorded by the central bank’s credit reporting system on a rolling basis for 2 years.

In other words, if a credit card user uses the credit card normally within 2 years and has no new overdue records, the user's old overdue records will be eliminated after 2 years.

Note: This old credit card overdue record will be saved for a long time, and this record will not be deleted.

2. Bank loan bad credit records shall be kept for 5 years

According to my country's "Credit Reporting Industry Management Regulations": the credit reporting agency shall retain bad personal information for a period of five years. It shall be 5 years from the date of termination of the behavior or event. If it exceeds 5 years, the overdue records shall be deleted.

During these five years, other banks will inquire about this user's overdue letter records. At this time, the borrower had better pay off the debt in time, and in the next five years, maintain his credit report and avoid any overdue behavior.

After 5 years, this overdue record will be automatically eliminated.

3. Overdue repayment of online loans depends on the situation

Overdue repayment of online loans still depends on the situation. First of all, we need to know in advance whether the online loan platform we borrow from has a credit report.

If there is a credit report on an online loan platform, it means that if the user is overdue, the platform may report it to the credit report system. But basically every platform has a grace period. Some platforms have a grace period of one day, and some platforms have a grace period of 5 days. As long as the repayment is made within the grace period, it will not have a negative impact on the user's personal credit report.

However, if the loan amount is relatively large and the borrower fails to repay the loan overdue for a long time, the platform may report it to the credit reporting system. For specific information, you can check the official website of your own loan platform.

Since overdue credit records will have a negative impact on us, once overdue occurs, we must also use our brains to think of ways to eliminate our bad credit records?

If the overdue period is short, the borrower should make up the debt in time and then actively contact the bank.

For overdue users, banks will generally provide delayed services for a few days before reporting the user's overdue record to the central bank's credit reporting system.

So if you want to remedy your overdue record, the debtor needs to contact the bank in time before the bank reports the overdue information, make up the amount owed, and try to solve the problem before the information is reported.

If the loan is overdue due to force majeure or an accident, you can explain the situation to the bank and the loan can still be approved. For example, if a borrower is overdue due to unemployment, sudden illness, etc., then the borrower should take the initiative to contact the bank and ask the bank to issue a "non-malicious overdue certificate".

There is also a situation where the borrower is not overdue, but is caused by a fake loan. Once a borrower finds himself in such a situation, he must proactively contact the bank and explain the relevant situation to the bank.

In addition, prepare your own appeal materials and submit an objection application to the local Credit Reference Center of the People's Bank of China. Generally, the credit reference center will provide a solution within 15 working days to eliminate the borrower's loan record.