Need. When the lender's loan is not repaid for a long time, if the long-term and repeated dunning fails, the bank will classify the loan as bad debt. 10 years of bad debts still have to be paid. If you don't pay back the money, the bad debt information will always be recorded in your personal credit report. When applying for credit cards and loans, banks and lending institutions that access the central bank's credit information system usually inquire about users' credit information. If users are found to have outstanding bad debts, they will basically not approve users' cards or loans.