Letters refer to the aggregation and collation of credit records, which are important for both individuals and enterprises. Credit records affect the credit rating of our borrowings, so it is particularly important for borrowers to learn about the renewal cycle of letters. So, how long will the letters be updated after the loan? This issue requires analysis from different perspectives。

How often do I get the letters updated

FIRST, WE NEED TO KNOW THE SOURCE OF THE LETTER. LETTERS OF CREDIT ARE OBTAINED MAINLY FROM BANKS, CONSUMER FINANCE COMPANIES, THE P2P NETWORK LENDING PLATFORM, ETC. WHEN BORROWERS BORROW AND SETTLE ON THE WEB-BASED LENDING PLATFORM, THE LETTER-AND-LETTER AGENCY UPDATES THEM ON THE BASIS OF DATA REPORTED ON EACH PLATFORM. HOWEVER, THE SPEED AND FREQUENCY OF DATA REPORTING MAY VARY FROM PLATFORM TO PLATFORM, AND THEREFORE THE PERIODICITY OF UPDATES MAY VARY。

Second, the speed of processing within the letter-requirer may also affect the renewal cycle. Some of the large letter services have greater data-processing capacity and higher levels of automation, and they are able to update the letter information more quickly. In contrast, small letter services may be processing at a slower pace and the renewal cycle may be extended accordingly。

In addition, the updating of correspondence information is influenced by industry regulation. In recent years, the Chinese Government has strengthened its regulation of the Internet financial sector, requiring all web-based lending platforms to establish a data interface mechanism with credit seekers to ensure timely reporting of relevant borrowing information. However, the degree of implementation and efficiency of controls are not uniform, which also leads to different cycles of updating of incoming information。

Finally, borrowers need to take the initiative to follow up on letters after they are closed on the Internet. In general, letter agencies provide personal reference services and borrowers can obtain up-to-date credit information by searching their letter records. If it is found that the information on letters of call is not updated in a timely manner, the borrower may contact the letter caller or the relevant platform to press for the data update。

In summary, the cycle of renewal of letters after the closure of web loans is influenced by a number of factors. These include data sources, the speed of internal processing by credit agencies, industry regulation, etc. While ensuring the accuracy of individual credit records, borrowers need to be proactive in following up on letters of credit. This would better preserve personal credit and increase the success rate of borrowing。