Will the paid off online loan remain on the credit investigation
Lawyer's analysis:
After the online loan is repaid, the credit report will be automatically cleared one after another within 5 years.
After the online loan is paid off, the institution will timely update the big data of the borrower's online loan, but it cannot immediately cover the lender's credit report record.
As for the update of online loan records, it usually needs to be done about once a month, which is obviously higher than the frequency of checking credit.
As for the overdue repayment record, even if the loan has been paid off, they will still keep it for five years, and it will not be cleared automatically until the expiration of five years.
If the lender successfully pays off the online loan, the status of paid off will be displayed after the monthly credit report is updated.
The retention period of personal online loan information by credit bureaus is generally from the moment when the lender starts to lend to the end of the fifth year after the loan is repaid.
Legal basis:
Article 16 of the Regulations on the Administration of Credit Information Industry
The retention period of personal bad information by credit reporting institutions is five years from the date of termination of the bad behavior or event;
If it has been more than 5 years, it shall be deleted.
During the storage period of bad information, the information subject may explain the bad information, and the credit investigation institution shall record it.
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