According to Article 16 of the Regulations on the Administration of Credit Information Industry promulgated by the state, the retention period of personal bad information by credit information agencies is five years from the date of termination of bad behavior or incident, and it will be deleted after five years.

As can be seen from the provisions of this clause, there are two preconditions for automatically eliminating our bad credit records. First, pay off all previous arrears and penalty interest; The second is to start counting the time after paying off, counting from the date of settlement and eliminating it after 5 years. In other words, if you don't settle this overdue bill, no matter how long it takes, it will remain on your personal credit report and will not disappear after five years because of the passage of time.

Can bad records be eliminated?

I believe many people have seen all kinds of so-called advertisements that can help you eliminate bad credit records on the Internet. Some people who are eager to borrow money to buy a house may believe it, but I can tell you for sure that all the so-called advertisements that can eliminate bad credit records are liars. Personal bad credit records mean that commercial banks have no right to change them. At present, the only person in China who can change the bad credit record is the People's Bank of China.

If the personal credit record is bad due to the reasons of commercial banks, the commercial bank that reported the bad record shall write a written application statement and affix the official seal of the unit to submit it to the local people's bank for review. If everything is correct, the People's Bank of China will manually delete bad credit records, so ordinary people can't change your records at all. Don't blindly believe that it leads to being cheated!