Note: Bad credit records are recorded in personal credit report; Generally can be eliminated after five years; Some serious cases can be postponed for ten years before they can be clarified; Some serious and bad ones will be blacklisted permanently.
There are generally two situations in which online loans become bad debts:
1, involving a small amount.
Some microfinance platforms borrow one or two thousand or even several hundred yuan at a time. These platforms themselves cannot access the People's Bank of China's credit information system, which means that they will not receive credit information after the deadline. It took about half a year, and I basically gave up. Because the amount is not large, the platform has no conditions to sue, so it can only borrow money and eventually become bad debts.
When you are not sure whether the online loan you borrowed is in the credit information, you can know the detailed credit status in the official WeChat account of S personal online loan credit information, and then inquire about the corresponding treatment. .
2. The online loan company suddenly closed down.
As we all know, many P2P online loan financing platforms are also lending platforms. Due to the poor management of the company, the capital chain is broken, the platform is unable to pay, or the platform is out of control, the online loan company may suddenly go bankrupt. At this time, because the company was dissolved, no one took over the creditor's rights and no one found the borrower. Loans may also turn into bad debts, and they will not be solved in the end.
If the user's arrears suddenly disappear after a long period of collection, the lending institution may have included this amount in the loss of bad debts, and will not collect them any more, and directly classify the overdue arrears as "bad debts". Paying off debts is a double constraint of morality and law. Most of the bad debt cases are because the amount is not large, and legal means such as platform prosecution are not enough to offset the cost, so the way of not being held accountable is adopted. If the amount is huge, the other party will sue the court, and the money will still be paid back.