In the current society, good credit has a huge impact on the development of individuals and enterprises. Problems such as bad credit, administrative penalty records, litigation records, etc. will seriously affect personal loans, ticket purchases, and even children's schooling and employment. Affects corporate financing, listing, etc. However, due to the weak awareness of credit maintenance among many people, some bad records have been caused. As people's awareness of credit maintenance increases, people are paying more and more attention to the importance of credit reports. So, what should you do if your credit report is overdue? Is there a way to eliminate it?
Let’s first look at how bad personal credit records are generated. When an individual makes a purchase with a credit card, the credit card generates a loan repayment record, and a consumption record will be sent to the user via text message or mail a few working days later. The text message or letter contains the minimum loan repayment amount and the latest repayment time. The low loan payment amount is not the entire amount of your credit card purchases. The late repayment time is generally twenty days after the card payment is made. Therefore, as long as the cardholder's loan repayment amount does not reach the minimum loan repayment amount within twenty days, a bad record will be generated.
How long does it take for overdue records to be eliminated? According to the provisions of the " Credit Information Management Regulations ", the credit reporting agency shall retain the personal bad information collected for five years, calculated from the date of termination of the bad behavior or event; if it exceeds five years, the credit reporting agency shall delete it. . This means that the overdue record will not follow you for a lifetime, it will be kept for five years.
Generally, banks check personal credit reports to check the applicant's repayment status in the past two years. As long as the cardholder's repayment status in the past two years has been normal when applying for a card or loan, there will generally not be any major problems. Therefore, after overdue payment, the wrong approach is to cancel the card immediately. The correct approach is to maintain good repayment records every month and cover the overdue records.
At the same time, if you have objections to your personal credit report being overdue, you can file an objection application for repair.
According to the "Business Procedures for Handling Objections to Personal Credit Reporting in the Basic Financial Credit Information Database" (Yinzheng Credit Center [2013] No. 97), if an individual believes that there are errors or omissions in the information in the credit report, he or she may report it to the Bank in person or by entrusting an agent. The credit reporting center and credit reporting sub-center file an objection application.
Personal credit reporting objections can be filed in person or by entrusting others to file objection applications. Bring the original valid ID of the person or the principal and the agent for inspection. The agent should bring the original "Letter of Authorization" for inspection. At the same time, fill out the "Personal Credit Investigation Objection Application Form" and leave a copy of the valid ID and "Authorization of Power". The original copy of the book is available for inspection.
After the objection handling credit center accepts the objection application, it will contact the commercial bank that provided the objection information for verification, and will reply to the objection applicant within 20 days after accepting the objection application. After the specified 20 days, the objecting applicant can go to the credit reporting sub-center to receive a reply letter.
There are many things that affect corporate and personal credit records, such as overdue personal credit reports, corporate administrative penalties, corporate litigation records, etc. To learn more about corporate credit information and precautions for corporate objection applications, you can leave a message for consultation.
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