Details are as follows:
1. First of all, the existence time of overdue records depends on the overdue situation and the regulations of the lending institution. Usually, when you are overdue, the borrower will submit your information to the credit information system and mark the overdue record. This record will be kept in the credit information system for a certain period of time.
2. Secondly, according to the regulations of China Credit Information Industry Association, in general, there will be overdue records in the credit information system within 5 years after the borrower confirms that you have repaid the arrears or settled them by other means. This means that in these five years, your overdue records will have a negative impact on your credit evaluation.
3. In addition, the retention time of overdue records may be extended under special circumstances. For example, if your overdue behavior involves a large amount or a serious breach of contract, the borrower may keep the overdue record in the credit information system for a longer time.
Summary:
To sum up, generally speaking, overdue records will exist for several years before they are eliminated. According to the regulations of China Credit Information Association, the overdue records will be kept in the credit information system for 5 years after the borrower confirms that you have repaid the arrears or settled them by other means. However, it should be noted that the existence time of overdue records can be extended according to specific circumstances.
Extended data:
Credit information system is a system for recording personal and enterprise credit information. Credit institutions shall be established and operated in accordance with the provisions of the Measures for the Administration of Personal Credit Information Services in People's Republic of China (PRC). The establishment of credit information system aims to provide the inquiry and evaluation of the credit status of individuals and enterprises, and plays an important role in lending, employment, signing contracts and so on.
When making loans or other credit-related activities, credit records will have an important impact on individuals. Overdue records are one of the factors that have a negative impact on credit evaluation. Therefore, it is very important to repay the loan in time, avoid overdue and maintain a good personal credit status.
It is worth mentioning that credit reporting agencies should abide by laws and regulations when dealing with personal information to protect personal privacy and information security. When inquiring about their own credit reports, individuals can apply for and obtain relevant information through the channels provided by credit reporting agencies.
The above is the answer about how long overdue credit information can be eliminated and how many years overdue records exist. Please pay attention to your credit status, repay in time and keep a good credit record.