It needs to be done in two steps.

1. Settle the debt

The borrower checks the credit report to see which institution reported the bad debt, and then proactively contacts the lending institution for repayment. If possible, it can be settled in one go Just pay the money back if it's clear.

However, considering that the bad debts will generate too much interest for a long period of time, it is recommended that the borrower negotiate with the lending institution to reduce part of the interest. After the lending institution agrees, the loan can be repaid according to the new arrears amount. Finally, don’t forget to ask the lending institution to issue a loan settlement certificate.

2. Modify the credit report

Some lending institutions do not need to be reminded by the borrower. As long as they confirm that the borrower has paid off the debt, they will actively apply to the credit report center to modify the credit report. , modify the borrower's bad debt record to overdue.

The borrower can print the credit report 20 days after paying off the debt to see if the bad debts are no longer displayed.

If the credit report still shows bad debts, it means that the lending institution has not revised the credit report, and the borrower should remind the lending institution.

For lending institutions that ignore them, borrowers don’t have to worry if they have proof of loan settlement and can directly submit an objection application to the credit reference center.

The credit report center will verify that the situation is true and will forward it to the lending institution, which will supervise it to modify the borrower's bad credit report to overdue within 20 working days.

If you want to check your online loan big data report with one click, which will contain important data such as your credit rating score, whether there is a blacklist, etc., just find "General Credit Check".

Extended information:

Can I still get a loan if I have bad debts in my credit report?

There are several reasons why you cannot get a loan.

1. From the perspective of repayment status, bad debts indicate that the borrower currently has overdue debts that have not been repaid, indicating that the borrower does not have a strong awareness of performance and does not take overdue obligations seriously; Solvency, unable to do anything in the face of overdue debt, can only allow it to become a bad debt in arrears.

This type of borrower does not meet the loan application requirements.

2. From the perspective of overdue time, bad debts are generally overdue for more than 180 days or more. Based on a cycle of 30 days, it is equivalent to the borrower having been overdue for 6 consecutive months.

If you are overdue for 3 consecutive months within 2 years, you are already a credit violator. Whether you are borrowing from a bank or applying for an online loan, as long as you can check your credit, this type of borrower will be denied a loan.

Warm reminder: Bad credit debts are actually overdue PLUS versions. The degree is quite serious. If they are not dealt with within a day, the borrower can be said to be insulated from the loan forever, and there is no way to clear the bad credit record.