Elimination time: it can be completed in about 2 months, the processing time for banks to delete bad debt records is 20 days, and there is a waiting period of 46 days for canceling credit cards. After repayment, the credit record will be changed from "bad debt" to "overdue" and will be displayed on the personal credit report within 5 years from the date of repayment. Bad debt is one of the most serious stains in the credit report, which is much more serious than the general overdue. As long as the letter reports bad debts, it means that banks will cut off related businesses, such as handling cards and loans. Not affected by the five-year update of personal credit report, it will always become a bad mark. Only by paying off the debt can this bad debt record be eliminated within five years from the date of paying off the debt.

credit reporting industry regulations

Fifteenth information providers to provide personal bad information to credit reporting agencies, should inform the information subject in advance. However, bad information disclosed in accordance with laws and administrative regulations is excluded.

Article 16 The retention period of personal bad information of credit reporting agencies is five years from the date of termination of bad behavior or incident; More than 5 years, should be deleted.

During the retention period of bad information, the information subject may explain the bad information, and the credit reporting institution shall record it.

Seventeenth information subjects can inquire about their own information from credit reporting agencies. The subject of personal information has the right to get my credit report twice a year for free.

Article 18 Anyone who inquires personal information from a credit reporting agency shall obtain the written consent of the information subject and agree to use it. However, unless the law stipulates that it can be inquired without consent.

Credit institutions shall not provide personal information in violation of the provisions of the preceding paragraph.