A bad debt is the failure of the borrower to pay off the bank ' s loans, which results in the bank ' s constant collection and reminder of overdue debts in order to recover the debt, but the borrower still refuses to pay and becomes a bad debt. When the borrower does not pay off the bad debts, the bank sends the information to the caller and records it in the personal credit report. So, how long before the letter is updated? This paper will be analysed from several angles。

How long will the letters be updated

I. Aligning timing of the renewal of the letter service

Trust institutions are those that provide credit information services in the country, such as the Central Bank Information Centre, the 100-track Information Centre, etc. It has been learned through the letter-in-trust agencies that different letter-in-trust agencies have different times of update. In the case of the Central Bank Information Centre, for example, which updates personal correspondence monthly, the statistical cut-off date is usually the penultimate day of the month, so that if the borrower pays his bad debts on the penultimate day of a month, it will not be reflected in the letter report of the month。

II. Different types of bad debts and different time periods for recording them

Different types of bad debts are recorded at different times in letters of credit reports. As a general rule, the period for recording bad debts on personal loans is five years, while the period for recording bad debts on credit cards is two years. This also means that a borrower with a bad personal loan would have been affected by a letter of credit report for five years, while a bad credit card would have been eliminated in less than two years。

III. The timing of the submission of relevant documents affects the timing of updates

Once the outstanding amounts have been settled, the bank is required to submit the repayment information to the letter-requisitioning agency in order to allow it to update the borrower ' s letter-receiving report in a timely manner. In some cases, the submission of documents by banks may not be timely, resulting in delays in the updating of correspondence reports. As a general rule, when a bank submits a document, the letter caller is required to update the personal credit report in a timely manner and to reflect the new credit information in the personal letter call record。

In any case, the length of service of the letters of call is dependent on a number of factors, such as the frequency of updates by the services, the type of uncollected accounts and the timeliness of bank submissions. If the borrower wishes to restore the letter call record as soon as possible, then the repayment should be accompanied by timely consultations with the bank on bad debt information and enhanced communication with the bank to enable the bank to update the letter call record in a timely manner。