1. How long will it take to resume credit reporting after the online loan is paid off?
After the online loan is paid off, the lender's online loan big data will be updated, and the lender's credit record will not be immediately covered. Online loan records are generally updated once every few months, and the update frequency is higher than that of credit reporting.
(1) If the bad credit records generated by overdue online loans are paid off, the bad credit records will be automatically eliminated after 5 years from the date of paying off;
(2) If it is overdue, the overdue record will always be kept in the credit record;
(3) If the online loan is not overdue, the record of handling the online loan will be automatically cleared after the user has settled the online loan for 5 years.
4) Compared with credit reporting, the recovery speed of network big data is faster. Online loan records are resumed at noon the next day after being paid off as soon as possible, and are generally updated once every few months. The retention period of personal information by credit reporting agencies is generally five years after the lender pays off the loan, and the information will be cleared automatically after five years; Compared with credit reporting, the recovery speed of network big data is faster. Online loan records are resumed at noon the next day after being paid off as soon as possible, and are generally updated once every few months. The key to credit recovery depends on the length of data submitted by the loan company. ? If it is fast, you can see the refresh of online credit information on the second day of the first repayment.
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 5 years from the date of termination of bad behavior or incident; More than 5 years, should be deleted. During the retention period of bad information, the information subject may explain the bad information, and the credit reporting institution shall record it.
Second, if online loans are repaid on time, will it affect credit reporting?
If you apply for an online loan, you will repay it on time every time, which has no effect on your personal credit information. However, if the number of online loans is too large, it will lead to confusion in credit reporting, which may have an impact on future loans.
Specific impacts may include:
If the number of online loans is small, there is no overdue repayment, and there is no online loan record after paying off the loan, then the impact on bank loans is not great.
If there is no record of overdue repayment, too many online loans will also affect the approval of bank loans, because too many loan records will make banks question the financial strength of borrowers, thus affecting lending.
If there is a record of overdue repayment, it will affect personal credit records and also have a negative impact on bank loans.
3. How long can I apply for a loan again after the online loan is paid off?
Many people are concerned about how long it will take for credit information to be covered after online goods are paid off. One of the main reasons is that they want to apply for loans through normal channels again. From the above analysis, it can be seen that it is impossible to 100% restore the previous credit after the online goods are paid off in a short time, because the credit record will be kept for five years, and your online loan record will be on your credit report within five years. After the online goods are paid off, it will have both long-term and short-term effects on your re-borrowing:
If you borrow an online loan from a bank, this record will be kept by the bank for life, which will have a long-term impact on the credit rating of the bank. At this time, if you have the bank's credit card, then you are directly a "gray account" and it is difficult to apply for the bank's credit card. This is the case. The impact of online lending on you is long-term.
But for most people, what they care about is not the long-term impact. Your's relationship is more about short-term and immediate refinancing. From the perspective of refinancing, if the online loan is paid off in about three months, it will have little impact on the existing credit card refinancing. Pay attention to holding, which means that if the online loan is paid off in about three months, it can be on the right track.
For applying for consumer credit, such as credit cards and consumer loans, it takes half a year to pay off, and there is no negative impact for at most two years before you can continue to apply for new credit cards or credits.
For asset loans and inclusive loans, they can be paid off the next month or even paid off. You can apply again with the settlement certificate in the current month. For example, if you buy a house and settle the online loan one month before the mortgage approval, it will not affect the mortgage approval, or provide the settlement certificate to the bank after the settlement in that month, which will not affect your loan approval.
4. What does the borrower need to do after the online goods are paid off?
For many people who have paid off their online loans, many people think that they are done, and immediately uninstall the relevant software, thinking that they will never touch this damn thing again, but later they find that even if you pay off, he will repeatedly check your credit history, resulting in your credit history being spent. Therefore, after online lending, two things must be done to pay off:
First, after the online loan is paid off, we must pay attention to closing the account in time to avoid personal information leakage. After all, when we apply for online loans, all information platforms are reserved. Let's untie the bank card first, and then call the customer service to ask them to help cancel the account.
Second, you must issue a settlement certificate. Because the settlement certificate is the certificate after you pay off the debt, if you buy a house or a car or apply for a loan product from the bank in the future, the bank needs you to provide your repayment certificate, so in order to avoid your future problems, you must issue the settlement certificate in time after you pay off the online loan.
Finally, I want to make it clear that loans overdue, in the Administrative Measures on Credit Information Recovery after Correction by the Executed Person with Broken Trust (Trial), was implemented on May, 2023 1. As long as he pays off the loan, he can resume the credit investigation soon. The regulations are aimed at legal persons and unincorporated organizations, as well as individual industrial and commercial households, and have nothing to do with individuals. Personal online loan overdue information will still be retained for 5 years. Don't be fooled by those swindlers who spend money to clean up your credit history.