After the insurance compensation, the credit information is recorded, showing when and how much the insurance helped you compensate. If you don't contact the insurance company to handle this compensation amount in the future, your record will always be displayed in the credit report. It affects all kinds of commercial loans such as buying a house and buying a car in our later period.
1, the so-called loan compensation, simply put, is that someone else helped you pay off the loan. For example, we sometimes need a guarantor when we borrow money. If we can't fulfill our repayment obligations, the lending bank or lending institution will ask the guarantor for compensation. However, after compensation, the guarantor may demand repayment from the main lender, which is the guarantor's claim right.
2. It should be noted that loan compensation is a very serious behavior, which will not only leave a bad credit record on the credit report, but also leave a record of dishonesty, so the record cannot be eliminated after 5 years like an overdue record, and the loan compensation record will remain in your credit report forever. And if there is a record of loan compensation on your credit report, your credit report will basically be abolished.
3. However, some loans are allowed to be compensated. For example, the national student loan means that the state helps the lender to pay off the student loan, which will not affect our credit information.
Generally speaking, the short-term behavior of loans overdue lending institutions will be regarded as non-malicious overdue. As long as the lender pays off all debts immediately, the lender will not be held accountable and will not submit a credit report.
5. Different lending institutions have different loans overdue time. For example, if a bank repays its debts within three days in loans overdue, it will be regarded as the lender's non-malicious overdue, while the small loan APP will take longer. In order to recover the arrears, overdue behaviors are often not reported within one week.
6. For long-term overdue behavior, lending institutions will classify overdue loans as malicious overdue loans and list them as "bad debts". At this time, the lending institution will take various ways such as door-to-door collection and company collection to collect the arrears, and even take the debtor to court. Generally, more than 90 days will be considered malicious. If it exceeds 120 days, legal measures will be taken.