First of all, let us talk together about the important principle of loans, that is, timely repayment. Sometimes, perhaps, we may have accidentally missed the repayment date. At this point you might think, I'm just a day late in paying off. Does this affect my credit records? Let's talk about it。

Will the one-day delay in the loan affect the receipt record

Your doubts depend on the differences in the credit risk judgement of the lending institution and the credit record. For most lending institutions, a day's delay does not necessarily result in a bad credit record. The reason is that they each have a period known as the tolerance period, during which the lender is allowed to complete the repayment without affecting its credit records. Some lending institutions will clearly inform lenders about this period of tolerance and others will not specify it。

But what is the lengthening of the repayment cycle? Loans that are overdue beyond this period of tolerance may be marked as bad credit and reported to the central bank ' s credit system. In other words, even if you are late in paying, it will be possible to guarantee that your credit records will not be affected if the loan is settled within a broad period of time. However, if the grace period for repayment is missed, your late records may be submitted to the Central Bank ' s letter-in-service centre. It is important to note that different financial institutions will have different provisions and that not all lending institutions offer broad-term services。