How long will overdue records not affect loans?
Overdue records are kept in the credit information for 5 years from the date of repayment, and will be automatically deleted after 5 years, which means that overdue records will not affect the loan until 5 years after repayment. However, the borrower has not paid off the debt, or the overdue records have been kept for less than 5 years. At this time, overdue records will affect the subsequent loan processing of users.
Expired records cannot be cleared manually. Borrowers who want to resume credit reporting can only pay off their debts as soon as possible and let their credit reporting resume as soon as possible.
In addition to overdue records, too many inquiry records and too high debt ratio will also affect credit reporting. Too many records refer to too many times that institutions inquire about credit information. When a borrower applies for a credit card/loan, the platform will query the user's credit information on the grounds of credit card/loan approval, which is the so-called hard query record. Too many hard query records will also affect.
High debt ratio means that the borrower borrows too much, which leads to high debt ratio and potential overdue risk. In this case, financial institutions usually refuse the user's loan request.
Generally speaking, overdue records will not affect loans until they are paid off in five years. Borrowers should not apply for online loans frequently except for timely repayment. That's all. I hope it helps you.