Learn how to view your delinquency history and how long it takes to remove it. Delinquencies can affect your credit rating, so it’s best to take care of them right away. Learn how to view your delinquency history and how long it takes to remove it.
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Late payment history
If you’re familiar with managing your credit score, you know how badly late payments can affect it. Credit scores are used for everything from credit card applications to loan approvals, and if you’re turned down for a loan because your credit score is low, you’re in a hurry, and if it doesn’t happen as quickly as you think it will, you’re in trouble.
If you’ve ever been late on a card payment or missed an interest payment on a loan, it’s a good idea to check your credit history to see if you have any delinquencies and, if so, when they will be removed, so you won’t have trouble getting a loan or credit product in the future. Even if you’re not in a hurry, it’s always good to be prepared for the future.
You can check your credit history at Nice Keepers or KCB AllCredit.
How to check your late payment history
You can check your delinquency record through Nice Jikimi.
Click Nice Jikimi > Apply for Free Credit Report.
Agree to the required terms and conditions, fill in your name and resident number, and verify your identity (mobile phone, credit card, public certificate).
You can check your credit rating and delinquency history.
Check defaulted information, defaulted creditors, and short-term delinquencies.
Get information on loans, guarantees, and keycard loans.
Check the main evaluation factors and negative factors in the credit score evaluation factor field.
Check your credit history
Delete Delinquency History
A delinquency record is a record of delinquent information that remains on your credit report for a certain period of time. In other words, the delinquency information is resolved (cleared), but the delinquency record remains for a certain period of time.
So what happens when a late payment is recorded? If your account is flagged as late, it will be recorded for at least one year and up to five years. Previously, even small amounts of 100,000 won were recorded and reflected in your credit score. However, as wages are low compared to inflation, which has a negative impact on your credit score, the criteria for recording short-term and long-term delinquency has recently changed.
Short-term and long-term delinquency criteria
Category Overdue Amount Overdue Date
Short-term overdue 300,000 won or more 30 days
Long-term overdue KRW 100,000 or more 90 days or more
Previously, if you were overdue for 5 days or more for $100,000 or more, a record of your overdue payment would be kept for at least 3 years. Now, short-term overdue is defined as overdue for 30 days or more for $300,000 or more. If you have 1 overdue payment for 30 days, the record will be kept for 1 year before being deleted, and if you have 2 or more overdue payments, the record will be deleted after 3 years.
It is important to note that if you go from short-term to long-term delinquency, the storage period becomes more than 5 years. Currently, long-term delinquency of more than 1 million won and 90 days is usually kept for 1 year and up to 5 years. 닥터규의 정보도서관
Short-term delinquency: Less than 3 months late, repaid
Long-term delinquency: repayment after 3 months or more of delinquency
*In case of long-term delinquency, you will be placed on a default list and will be strongly penalized for financial transactions.
Note that if your delinquency information is shared with all financial companies, you may be able to borrow from some financial companies in the case of short-term delinquency, but in reality, all loans are difficult. Long-term delinquencies usually take 3 years or more to be removed, so always be vigilant about managing your credit to avoid any late payments.
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Conclusion
In this article, we’ve covered what a late payment record is, and we recommend that you pay attention to your payment history so that you don’t have a late payment record. Delinquency records are highly related to credit management, so if you have an urgent situation, records such as short-term and long-term delinquencies usually take about 3 years, so it is a big obstacle. Since it is possible to check your credit report 3 times for free, it is also a good idea to prepare in advance through delinquency information.