How to search overdue records
In this time, we are going to learn how to search overdue records. Late payment is usually referred to as non-payment or late payment. It is also called delayed compensation for default, and if it gets old, your credit rating will be downgraded, and later you will become a bad credit person. The scope of this delinquency is that there are many delinquents due to non-payment of loans, tax payments, debts, cell phone bills, etc.
■ Overdue record
Arrears arise because you do not pay your debts. Delinquency is the state of non-payment of debt. Most of them are overdue and subject to a late penalty, or interest. Usually, the interest for late payment is only a few percent, but if you continue to pay late, the amount will increase exponentially.
Interest + interest on the overdue amount is aggravated, and both the creditor and the debtor become bloody. It is said that there are cases in which a creditor files an electronic lawsuit with a district court, etc., and enforces execution on the property under the name of the debtor to recover the money in arrears. Usually, if you go this far, it is common for you to become a credit delinquent, and it is because you no longer trust the other person’s credit.
■ Automatic deletion of overdue records
If you delay payment, the record of overdue will disappear after you repay the overdue amount, because the reason for the overdue occurrence will be lifted. If so, the overdue history does not disappear immediately even if you pay off the outstanding balance. The fact that you have overdue will remain on your record for a certain period of time, which will change your credit and interfere with your other financial activities. A credit rating that has fallen will rise slowly until delinquent records are completely erased.
■ How to delete overdue records
When payment is delayed, overdue information is shared through the credit rating agency platform and my credit rating is lowered. When the payment is completed, the fact of full payment is reflected after 2-3 days, and the overdue status is changed to cancellation. When deleting overdue records in the unlocked state, the deletion time changes according to the overdue period.
▶ 1 year after less than 300,000 won and less than 30 days overdue
▶ 3 years after overdue of less than 90 days
▶ 5 years if overdue for 90 days or more
※ There is no decrease in credit rating for long-term non-payment of less than KRW 100,000.
In the case of direct debit, if the payment is delayed, the bank account balance becomes 0 won, and when the balance is checked at the time of loan, the fact of non-payment is confirmed and the loan is rejected. Therefore, it is best not to default on your loan, even if it is a very small amount.