When some people apply for loans, because of their lack of personal qualifications, the lending institutions will ask for guarantors, and the requirements for guarantors are not low, which makes many people very worried when they become guarantors. What's the impact of being a guarantor? Can the loan guaranteed for others be found in the credit report? Let's get to know each other.
Can the loan guaranteed for others be found in the credit report?
In order to guarantee others' loans, lending institutions will ask for the credit information of the guarantor. As long as his credit information is good and there is no bad credit record, he can become a guarantor. This query will check the query record of "Guarantee Approval" on the credit report.
After the secured loan is successful, the loan will be shown in the guarantor's credit report, which is also considered as the guarantor's debt. Once loans overdue is established, it will also affect the credit report of the guarantor.
What's the impact of being a guarantor?
Guaranteeing loans for others will affect the guarantor's personal credit and asset-liability ratio.
Once the borrower is unable to repay the loan, the borrower's credit information will deteriorate. If it is a joint guarantee and the borrower is unable to repay it, the creditor may directly ask the guarantor to repay it. If it is a general guarantee, the borrower will not repay after being enforced, and the guarantor will also be responsible for repayment.
Therefore, becoming a guarantor will increase the difficulty of applying for a loan, the risk of overdue is lower, and lending institutions are reluctant to lend money.
If you want to guarantee someone else's loan, you need to know the borrower's personal credit, debt ratio, assets and repayment ability in detail to minimize the overdue risk.
As for whether the loan guarantee for others can be found in the credit report, I think everyone has understood that the guarantee has certain risks, and everything will be fine without signing. We should help others within our power.
Can you find a loan guarantee for others in the credit report?
The secured loan is not bad information, so the credit information can't be found out.
The Regulations on the Administration of Credit Information Industry has corresponding provisions on this:
Article 16 The retention period of personal bad information of credit reporting agencies is five 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. Information subjects can inquire their own information from credit reporting agencies.
Extended data:
Regulations on the Administration of Credit Information Industry and other relevant laws and regulations:
Article 35 A natural person, legal person or other organization that illegally obtains enterprise credit information or uses the obtained enterprise credit information for illegal purposes shall be investigated for legal responsibility according to law.
Administrative organs at all levels should establish an incentive and punishment mechanism for dishonesty, use credit incentives and constraints, and increase the incentive and punishment for dishonesty. Take disciplinary measures to restrict or prohibit serious untrustworthy enterprises according to law.
Thirty-sixth of the voluntary disclosure of enterprise credit information, through the enterprise credit information publicity platform automatically loaded to be publicized. Administrative organs at all levels shall not disclose the enterprise credit information disclosed according to the application.