Today, let’s find out when the registration and deletion of short-term and long-term delinquency records, which have the greatest impact on credit score decline and bank loan refusal, will occur. If overdue information is registered, your credit score will decrease and you will receive significant disadvantages in financial transactions such as loans or credit card use.
<Contents>
What is the difference between canceling overdue information and deleting overdue records? 연체기록
When is the registration and deletion of short- and long-term overdue records?
What is your credit rating (credit score) when you do not pay your cell phone bill?
How to check short-term and long-term delinquency records (free inquiry method) 좋은뉴스
What is the difference between canceling overdue information and deleting overdue records?
Many people confuse the difference between “remove overdue information” and “delete overdue record”. For example, when I was working as a loan officer at a bank, many customers came to me and asked me to repay the overdue loan and proceed with the loan immediately because the overdue record would have been deleted.
By the way, would the overdue record be deleted right away just because the overdue loan was repaid? Strictly speaking, if you repay the overdue loan like this, the overdue information is only released. To put it simply, it can be seen that the red hazard warning light came on and went off.
In other words, even if all the arrears have been repaid, the overdue information has been released, but the record that the debtor has overdue (= overdue record) itself remains for a certain period of time.
As explained earlier, general loan users know that the ‘overdue record’ is immediately deleted when the arrears are paid off, but in reality, at least 1 year up to 5 Overdue records will remain in “financial companies” and “Korea Credit Information Service” until the year. If so, let’s find out from now on what criteria and when these overdue records are registered, and how long they are maintained and then deleted.
When is the registration and deletion of short- and long-term overdue records?
Overdue record-registration-and-deletion-criteria
overdue record
First of all, the date of overdue is calculated on the basis of ‘business days’. Overdue can be largely divided into <short-term overdue> and <long overdue> as follows.
(Short-term overdue): When repaid after less than 3 months overdue
(Long-term overdue): When repaid after being overdue for more than 3 months (listed on the debt default list and subject to strong disadvantages in financial transactions)
In addition, regardless of the period and number of overdue cases, if less than KRW 100,000 is overdue, it is not considered ‘short-term overdue’, does not affect credit score, and overdue records are not shared with credit rating agencies and other financial institutions. However, you should be aware that the financial institution has a record of delinquency, so you may be penalized for additional loans or loan extensions.
Similarly, over 100,000 won · 5 business days or more · 1 cases overdue Even if you do, it does not affect your credit score. However, since overdue records are shared with credit rating agencies and financial institutions during the overdue period, financial transactions may be disadvantaged.
What is your credit rating (credit score) when you do not pay your cell phone bill?
Many people are unaware of the negative impact on their credit rating (credit score) when they do not pay cell phone bills, so many people are disadvantaged in financial transactions. Whether or not your credit rating (credit score) is affected if you do not pay your cell phone bill can be explained in two ways as follows.
① In case of overdue ‘call service charge’ and ‘data service charge (mobile phone usage fee)’: In case of non-payment, no overdue record is left, and there is no effect on credit score.
② In case of overdue ‘cell phone terminal installment payment’: In case of non-payment, an overdue record will remain and your credit score will also decrease.
The majority of people do not purchase a cell phone for self-sufficiency, but “terminal installment payment” is included in the cell phone bill. Therefore, in general, if you are in arrears due to non-payment of cell phone bills, your credit rating (credit score) will also decrease and you will be disadvantaged in financial transactions, so please be aware of this.
How to check short-term and long-term overdue records (how to inquire for free)
So far, we have explained when short-term and long-term overdue records are registered, and how long the records are kept and then deleted. So how can we check these records?
Before applying for government-supported loans and general loans, it is necessary to check short-term and long-term delinquency records on your own. ‘Short-term overdue record’ can be grasped to some extent because it’s been a while, but it won’t be easy to remember ‘long-term overdue record’ because it was a long time ago.
Of course, recently, there are places where simple information such as credit score and loan history can be viewed for free from credit card companies and finance-related apps. The problem is that these places provide general basic information, but do not provide detailed information such as short- and long-term delinquency history.
However, fortunately, after registering as a member at “NICE Jikimi” and “AllCredit”, credit inquiries are available free of charge three times a year. The method of use is as follows based on the PC.
(NICE Jikimi): Access [Nice Jikimi (https://www.credit.co.kr)] → Click [Experience] → Click [Credit Inquiry Application]
(All Credit): Access [All Credit (https://www.allcredit.co.kr)] → Click [Free Credit Inquiry View]
※ Note: Both of the above sites can be viewed by non-members, and can be viewed not only on PC but also on mobile devices.
Recent loan related articles
[Government support loan] – Which government support loan is right for me?
[Government support loan] – If you are a worker, you can borrow up to 12.5 million won at an ultra-low interest rate of 1.5%! [Workers Livelihood Stability Fund]
[Unemployed Loan] – The easiest place to get a small loan for the unemployed, a summary of the most realistic methods
Above, we have provided information on when short-term and long-term overdue records can be registered and deleted. The longer the overdue record is delayed, the longer the overdue record remains, and it has a very negative impact on our credit score, which is very important for financial transactions.
And once your credit score drops, you may not be able to use low-interest products and continue to use only high-interest products, and the loan amount will gradually increase, and eventually you may end up using a lending company due to lack of funds. Therefore, we hope to prevent overdue as much as possible in advance to keep our credit, an invisible asset, in good condition for a long time.