It should be noted that overdue records in credit reports cannot be deleted manually. Generally, it will be deleted by the system at least five years after the customer pays off the debt. When customers apply for credit products, banks or other licensed consumer financial institutions will mainly inquire about the credit information of customers in the past two years during the approval process.
Treatment measures for overdue mortgage:
Make up the arrears in time
If the mortgage is overdue, you should change the money within the specified time (usually within 7 days) after receiving the bank's SMS or telephone notice, so as not to cause greater losses.
Extend the loan term
If the buyers can't repay the mortgage on schedule according to the original repayment plan, they can apply to the bank to extend the loan period. The bank stipulates that the extension of short-term loans shall not exceed the original loan term, the extension of medium-term loans shall not exceed half of the original loan term, and the extension of long-term loans shall not exceed three years.
Apply for an extension of repayment
If the property buyers can't repay the mortgage on time due to accidents, they can apply to the loan bank for loan extension 30 days in advance. After the bank verifies that it is correct, it will appropriately extend the mortgage term and reduce the monthly payment. The extension period can be decided by the borrower, but there is a maximum period limit, and the extension can usually only be applied once or twice.
Seek help from relatives and friends.
If you really can't repay your mortgage, you can ask friends and relatives for help and try not to default on your mortgage. What will happen to loans overdue?
Have a bad credit record, which will affect the future loan and credit card processing.
Every day after you are overdue, your name will appear in the internal system of the bank at the same time, and then the president and risk control will see it. After the deadline, the credit report will inevitably leave a bad record. Once you stay, you may be locked up for 3 -7 years. If you want to borrow from other banks in the future, you may not be able to apply easily because of bad credit. If the overdue situation is serious, the mortgage and car loan will be affected in the future. Penalty interest is only the loss of money, while bad credit records are the loss of intangible assets, and the impact is irreparable by money.
You can't enjoy preferential loans or even apply for loans.
When many people apply for a mortgage again, they find that they have left too many overdue repayment records on the old mortgage because of carelessness. In addition to the penalty interest for overdue mortgage repayment, they may not be able to obtain the preferential interest rate of bank mortgage smoothly. What's more, it is impossible to apply for a mortgage.
Affect one's career