When using the cash loan software to apply for capital loan, you need to fill in complete personal information, and the system will review the borrower's personal credit information, so it is the credit information at the meeting.
After the borrower is approved, it will repay the loan on time according to the repayment regulations and maintain a good personal credit record, which will not be overdue and will not affect personal credit.
If the borrower fails to repay the loan within the time limit or maliciously delays the repayment, and fails to repay the arrears and defaults frequently, the default interest will generally be charged first. After many negotiations, if the overdue amount is too large and the nature is bad, the cash loan platform will report it to the credit information system, and the overdue record will be displayed in the personal credit information record.
How many years are credit records kept?
According to the relevant regulations, good credit records have been kept, and bad credit records have been kept for five years after paying off the debts. After the borrower has paid off all the debts, the overdue credit records will no longer be displayed after five years. However, when re-approving the loan, the department bank financial institutions will focus on the overdue records in the last two years, and suggest to repay the loan on time to ensure good personal credit.