It generally takes 5 years to eliminate bad credit records.

According to the "Credit Reporting Industry Management Regulations", the credit reporting agency's retention period for adverse information appearing in personal loans is 5 years from the date of loan settlement; the retention period for adverse information such as credit card overdue records is It is 5 years from the date when the credit card debt is settled. If it exceeds 5 years, it should be deleted.

In fact, the premise for the credit record to be eliminated after 5 years of overdue is: "the event is terminated", that is, all the previously overdue amounts and penalty interest must be paid off first. From the date of repayment, the time begins to count, and the bad records will be deleted after five years. Let me emphasize again that all overdue debts and penalty interest must be paid off. The stain on your credit report will not be eliminated until 5 years later.

According to Article 3, Article 16 of the "Credit Reporting Industry Management Regulations" issued by the State Council: The credit reporting agency shall retain personal bad information for five years from the date of termination of the bad behavior or incident. Those five years old should be deleted. "The date when the bad behavior or incident was terminated" means that it will only be deleted after five years after the debt is paid off. If you are always overdue and do not pay back your debts, I'm sorry, but these bad credit records will follow you for a lifetime! If you have another credit report in the next five years, I'm sorry, it will be calculated again for another five years! For example, your credit card expired in January 2020, resulting in a bad credit record.

If you pay off all the overdue debt and penalty interest in May 2020, the bad credit record will be eliminated after May 2025; if it is not until 2021 If you pay off all overdue debts and penalty interest, you will have to wait until 2026 to eliminate your bad credit record. Therefore, the statement that "the credit report will be automatically eliminated regardless of whether it is overdue for more than 5 years" is inaccurate! The result of this misunderstanding is that after five years, overdue records still exist. If you want to eliminate the stain on your credit, you need to pay off the debt and wait for the next five years. And no one can eliminate it except yourself.

The essence of blacklisting by the court is that the court issued an order to limit the high consumption of the person subject to execution. The lifting of an order restricting high consumption requires that the person subject to execution complete the obligations specified in the effective legal document. The people's court shall promptly notify or announce the lifting of the order restricting high consumption within the scope of notification or announcement in Article 6 of these regulations. There is no clear time limit for how long it will take to be lifted.

Legal basis: "Several Provisions of the Supreme People's Court on Restricting High Consumption of Persons Subject to Execution" (Fa Interpretation [2010] No. 8)

Article 1: The person subject to execution fails to comply with the execution requirements If the payment obligation specified in the effective legal document is fulfilled within the period specified in the notice, the people's court may restrict the high consumption.

Article 2: When the people's court decides to take measures to restrict high consumption, it shall consider factors such as whether the person subject to execution has passively performed, avoided execution or resisted execution, as well as the person's ability to perform.

Article 3 If the person subject to execution is a natural person, after being restricted from high consumption, he shall not engage in the following behaviors of paying expenses with his property:

(1) When taking transportation, choose airplane , soft sleeper trains, second-class or above cabins on ships;

(2) High-end consumption in star-rated or above hotels, hotels, nightclubs, golf courses and other places;

(3) Purchase of real estate Or build, expand or high-end decorated houses;

(4) Leasing high-end office buildings, hotels, apartments and other places for office work;

(5) Purchasing non-essential vehicles for business;

(6) Traveling and vacationing;

(7) Children attending high-fee private schools;

(8) Paying high premiums to purchase insurance and financial products;

(9) Other high consumption behaviors that are not necessary for life and work. If the person subject to execution is a unit, after being restricted from high consumption, the person subject to execution and his legal representative, principal person in charge, and persons directly responsible for affecting debt performance are prohibited from using the unit's property to perform the acts specified in paragraph 1 of this article.

Article 4 To limit high consumption, the person applying for execution shall generally submit a written application, which shall be reviewed and decided by the People's Court; when necessary, the People's Court may make an ex officio decision.

Article 6: Based on the needs of the case and the circumstances of the person subject to execution, the people's court may serve a notice of assistance in execution to the unit that is obliged to assist in investigation and execution, and may also make an announcement in relevant media.

Article 9 During the period of restricting high consumption, the person subject to execution must provide the necessary information