If the mortgage is overdue in the repayment process, the overdue bad records will not be kept in the credit report like normal loan and repayment records. After the customer pays off the debt, he maintains a good personal credit, and the overdue records will generally be deleted by the system after five years (if the customer fails to repay the debt within the time limit, the overdue records may be kept all the time).
Of course, it is best for customers not to be overdue, because once the overdue information is recorded on the credit information, personal credit will be damaged, which will affect customers' later credit business. If the customer has accumulated a good credit record, it can improve personal credit and contribute to the handling of credit business.
How long will it take to pay off the loan?
In general, the credit report shows that the settlement takes 1-2 months. Because usually banks or lending institutions will not upload the repayment records of customers truthfully, but will submit the repayment information of customers to the credit information system every once in a while. Therefore, the customer has paid off the loan this month, and the repayment record in the report may not be updated when the personal credit inquiry is made that month, and the updated credit record will show the customer's repayment situation. If the loan is overdue during the use period, the overdue record will be automatically cleared after paying off all the expenses of the loan for 5 years. For example, the borrower's loan maturity date is1April 6. If it is overdue, the overdue record will always be displayed on the credit report. The borrower will pay off all the arrears including principal, default interest and interest on March 10, 2026, and then cancel the overdue record on March 10, 20365438.
The credit report will also show the details of the repayment account, and you can see whether the lender is overdue for more than 90 days. Banks or financial institutions will review the qualifications of lenders based on this information and judge whether they meet the loan conditions. Therefore, it is helpful for borrowers to repay on time, maintain a good credit record and improve the pass rate of other loan businesses.