It takes five years for the guarantor's credit record to be eliminated, and the debtor must pay off the debt at the first time. Five years shall be counted from the time when the debtor pays off his debts. According to the regulations of the People's Bank of China, all records in credit information are only kept for 5 years, and will be automatically cleared after 5 years. After paying off the debt, the guarantor's record in the credit information will be eliminated after 5 years.

Legal basis:

Article 16 of the Regulations on the Administration of Credit Information Industry stipulates that the retention period of personal bad information by credit information agencies is five years from the date of termination of bad behavior or incident, and it will be deleted after more than five years.

Credit information will be updated a few days after the loan is paid off.

1. Generally, the credit record will be updated after one month, which means that it will show that your online loan has been paid off after about one month.

2. If you only applied for one loan and didn't apply for other loans at ordinary times, you can wait 1 month before applying for a loan. Loans that are not particularly strict generally have no impact.

3. If you want to wait for the online loan application record to be eliminated, it will take about 5 years before the previous record will be overwritten.

Extended data

1. How many months of inquiry records does the credit report show?

As mentioned earlier, there are many types of credit records, and different types have different display times:

1. Credit information records the basic information handled by the lender, including loans, credit cards, guarantees, etc. , will always be displayed in the credit report.

2. Overdue record refers to the record that credit business such as loans or credit cards fails to repay on time, and it will be displayed for 5 years after the termination of bad behavior.

3. Public records refer to payment information such as social security and provident fund, which will show the records of the last five years.

4. Inquiry record refers to the record left after inquiring about the credit report, which will display the inquiry records in the last two years.

Second, does the inquiry record have an impact on the credit investigation?

1 certainly has an impact, but it should be analyzed according to the type of query record.

2. Query records can be subdivided into soft query records and hard query records. Among them, personal inquiry and post-loan management belong to soft inquiry records, which have little influence on credit investigation and can be basically ignored; Hard query records include loan approval, guarantee qualification examination and credit card approval. Too many times in a short period of time will make credit investigation a flower.

Three, seven important contents of personal credit report

1, white household of credit investigation

Generally, after graduating from college, people will start to contact financial services more or less, such as credit cards, mortgages, car loans, mobile phone credit loans and so on. Credit reports began to appear. If your credit report is not recorded, the bank can't know the credit record, overdue record, etc. From your credit report, it seems clean, but the risk is unknown.

2. Expired records

This is familiar to everyone. Never leave an overdue record on the credit report. Don't have "three consecutive days for six consecutive days", that is, it is overdue for three consecutive months within two years, or there are six overdue records. Once overdue records appear, it will take five years for the arrears to be eliminated naturally after they are paid off.

3. Bad debts

Bad debts, that is, accounts that have passed the repayment period and cannot be recovered after collection, are in a state of sluggishness for a long time, which is a serious breach of contract, more serious than overdue. If you don't handle it all the time, you will become a bank loan user.

4. The debt ratio is too high.

Some people think that they have no overdue records, but they don't know that high debt ratio is also a disguised "bad credit". Banks will focus on the current credit card usage and the average credit card usage in the past six months. Therefore, if there is demand for mortgage and bank loans, pay attention to your credit card credit at least three months in advance.

5. Online loan records

At present, a number of licensed online loans have been involved in credit investigation, and more products will join the ranks of credit investigation in the future. A series of products such as white strips, flower buds, borrowing buds, micro-loans and Wanda loans are used moderately to avoid affecting credit reporting.

6. Number of institutional surveys

Credit card approval, loan approval and guarantee qualification examination have a certain impact on credit reporting. It is recommended not to inquire more than five times within six months, otherwise it may affect loan approval or credit card account opening.

7. Spouse credit report

The new version of credit information will be launched soon. It is said that your spouse's credit information will also be displayed in your credit report. When applying for a loan while married, the credit status of the spouse is also one of the important factors.

On the credit report, the loan has been paid off. When can I erase the record?

Overdue records need to be cleared within 5 years after settlement; The inquiry records need to be kept in the credit information for 2 years, and will be cleared automatically after 2 years. If you are loans overdue, your personal credit data will be kept for five years, and this five-year calculation time node starts from the day when you settle the loan.

For example, if you have a loan due on October 23, 2020/kloc-0, but it has not been paid off, then bad credit will always exist. When will it be paid off? The five-year deadline will really start to count down.

The consequences of loans overdue:

1. In case of default interest, 50% interest will be added.

Credit loans overdue, the lender will first collect the loan, remind the borrower to repay, and the interest rate will rise as a daily penalty.

2. Have a bad credit record, which will affect future loans and credit card processing.

Every day after you are overdue, your name will appear in the internal system of the bank at the same time, and then the president and risk control will see it. After the deadline, the credit report will inevitably leave a bad record. Once you leave, it may last for three to seven years. If you want to borrow from other banks in the future, you may not be able to apply easily because of bad credit.

3. You can't enjoy preferential loans or even apply for loans.

If the overdue situation is serious, the mortgage and car loan will be affected in the future. Penalty interest is only the loss of money, while bad credit records are the loss of intangible assets, and the impact is irreparable by money.

4. The bank sent a lawyer's letter to the court for prosecution.

If you don't pay the bill for more than 3 months, it will be very serious! If the loan bank collects the loan according to law, it will bring a lawsuit to the court according to the loan contract and guarantee contract (mortgage or pledge contract), and the court will take measures such as property preservation, including freezing the deposits in all bank accounts of the lender and loan guarantor and sealing up the pledged property.

5. After the judgment comes down, it will be enforced.

After the judgment is made, the property will be enforced according to law (deducting deposits, auctioning collateral, etc.). ) to repay the bank's loan losses. Specifically, it includes: loan principal, loan interest, overdue interest, penalty interest, and all litigation costs arising therefrom, and related expenses incurred when disposing of pledged property.

How long will it take to eliminate credit information after repayment is guaranteed?

Bad credit records will be automatically eliminated after 5 years from the date of paying off debts. In order to eliminate the bad credit record in the personal system of the People's Bank of China as soon as possible, the guarantor should repay the loan as soon as possible. At the same time of repayment, the guarantor may initiate recourse against the debtor.

According to Article 16 of the Regulations on the Administration of Credit Information Industry, the retention period of personal bad information by credit information agencies is 5 years from the date of termination of bad behavior or incident; More than 5 years, should be deleted.

After paying off the arrears, the influence of bad credit records on the guarantor will become less and less. After paying off the arrears, the guarantor needs to maintain a good credit record and repayment habits, and there can be no overdue phenomenon.

When a bank handles a credit card for a guarantor, it will generally check whether the guarantor has a bad credit record within 2 years. Pay off the debt for 2 years, and you can apply for a credit card from the bank if you have consumer demand. When you use a credit card, you need to repay it on time, not overdue.

Guarantors need to give full consideration when guaranteeing others. If the debtor fails to repay or refuses to repay as agreed, the guarantor shall bear joint liability. Generally speaking, don't vouch for others unless you trust someone especially or you are a close relative.

There are objective risks in guaranteeing others. If others don't repay, their credit will be affected, so they have to repay for others.