The credit report shows that it has been settled and the balance is zero, which proves that the loan has been paid off. A balance of zero means that the money is used up. For example, if you borrowed 200,000 yuan and spent 1.2 million yuan, what do you mean by the balance and the actual principal balance of the secured loan? The actual principal balance of the secured loan refers to the remaining repayment amount of the loan guaranteed by the borrower for others. The loan principal is also called the loan amount, or the principal for short. English name loan amount or principal. The loan principal is sometimes confused with the original loan principal and loan balance. Accurately speaking, the loan principal should be the original loan principal. Their relationship can be expressed by the following simple formula: loan principal = repaid principal+unpaid principal.

What are the consequences of guaranteeing loans for others? Guaranteeing for others will affect personal credit and personal asset-liability ratio. When you vouch for a friend, the loan account in the friend's name will also be recorded in your personal credit record. If a friend is overdue or fails to pay his debts, it will affect his personal credit record.

In addition, helping a friend as a guarantee, a friend's debt is also his own debt. Before my friend paid off all the money, the asset-liability ratio increased invisibly. If the personal asset-liability ratio is too high, it is impossible to obtain loans. Therefore, even if you guarantee for others, as long as the borrower has a good credit record and strong repayment ability, you can apply for a loan from a lending institution.

Credit report When applying for a loan with a loan balance of 0, both banks and loan companies require borrowers to provide credit reports in addition to their strong repayment ability. Many friends don't understand, is the credit report a "must" when applying for a loan?

Generally speaking, when applying for a loan, the lending institution will ask the borrower to provide the corresponding credit report, because the credit report can effectively reflect the borrower's personal debt and credit problems and is an important basis for the lending institution to judge.

However, compared with banking institutions, microfinance companies are not particularly strict with borrowers' credit requirements. For this reason, although the borrower's credit report is occasionally overdue, it is still possible to obtain a loan on the premise of meeting the loan requirements. However, due to the different regulations of different institutions, the specific situation requires the borrower to implement in accordance with the regulations of relevant institutions.

In addition, if the borrower can provide collateral, he can also choose pawn shops or guarantee companies to handle mortgage loans. In this case, the requirements for the borrower's credit report are relatively less strict.