At present, the loan application conditions are generally not high, and many people do not consider their repayment ability when borrowing, which leads to overdue. As long as the loan applied for is a credit, if it is not repaid within the repayment period, it will affect the credit. If the loan is overdue for more than 90 days within 5 years, what impact will it have on credit reporting? Let's get to know each other.

What's the impact of more than 90 days in loans overdue in five years on credit reporting?

Loans overdue has been overdue for more than 90 days, and it has been overdue for more than 90 days in the past five years. It is difficult to apply for a loan again, and the application for a bank loan will basically be rejected directly.

Loans overdue is divided into short-term overdue and long-term overdue, with different impacts.

Short-term overdue, also known as non-malicious overdue, such as bank loans, is generally counted as non-malicious overdue within 3 days, and all principal and interest are repaid within the grace period of repayment. The borrower will not be held accountable for overdue and will not be reported; However, the loan products of online lending institutions have different grace periods for repayment. Some have no grace period, and they all report their credit information one day after the deadline. When borrowing money, you should read the loan contract carefully and understand what responsibilities you need to bear after it is overdue.

Long-term overdue, that is, malicious overdue, is also a "bad debt" in loan jargon, and lending institutions will urge borrowers to repay in various ways. Generally overdue for more than 90 days is malicious. If the overdue payment exceeds 120 days, the lending institution may bring a lawsuit to the court and take legal measures to collect it.

What about going to loans overdue?

After loans overdue, we should deal with it in time and pay off the debts. Some lending institutions can apply for deferred repayment, contact the loan platform on their own initiative, and don't borrow the phone number of the lending institution.

If loans overdue is caused by objective factors, such as epidemic or catastrophe, you can contact the lending institution to explain the facts and issue a "non-malicious overdue certificate" to avoid your credit being greatly affected.

It is very difficult to apply for a loan because the loan is overdue for more than 90 days in 5 years. In the new five years, we must keep a good credit record and can't overdue it again.