Overdue record inquiry? Two verification methods (short-term, long-term, communication, etc.)
Today, I’m going to learn about overdue record inquiry. In life, it often happens that you become overdue.
In most cases, it is not a big problem if it is a small amount and for a short period of time, but if it is not, it is very disruptive to your financial life.
Below, we’ll look at how to check your overdue history, delete your overdue history and credit management tips.
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Check overdue record
If you have an overdue record, that record will remain for a certain period of time and affect your credit rating.
And even if all the overdue amount is repaid in the future, the overdue record is not deleted until the specified period, and the financial institution conducts a credit evaluation based on these.
Since the overdue record is maintained for 1 to 5 years from the time the overdue repayment is completed, it is recommended to check the overdue record as soon as possible and then repay the overdue amount as soon as possible.
If you have a delinquency record, your credit score will drop, and as a result, it will be difficult to use various financial services that require guarantees.
The representative disadvantages that occur due to a drop in credit score can think of the following.
Borrowing is difficult or impossible
Credit card limit is lowered or issuance itself becomes difficult
Rising interest on loans
In addition to this, you can also consider restrictions such as opening a mobile phone (device installment purchase).
How to check overdue records
You can check your delinquency record by using the website of a credit rating agency.
Representative credit rating agencies include NICE Rating Information and Korea Credit Bureau.
NICE evaluation information is provided free of charge on the NICE Keeper website below to check overdue records.
Go to NICE Jikimi
Delete overdue record
There is a limit on the number of times, but you can use it 3 times a year for free.
If there is an overdue history, you can check all records.
Delete overdue record
Korea Credit Bureau’s All Credit (link attached below) also provides a free overdue record checking service, so I think it will be helpful to take a look at it together.
Check delinquency records in All Credit
Delete overdue record
Delete long-term and short-term delinquency records
Previously, it was said that overdue records remain for a certain period of time and are then deleted.
To be more precise, it is accurate to understand that the overdue record is no longer referred to in the financial sector, rather than being deleted.
Please refer to the table below for the amount of overdue and the time required to delete overdue records by overdue period.
Overdue amount Overdue period Period until deletion
More than 100,000 won and less than 300,000 won Within 30 days 1 year
KRW 300,000 or more Within 30 days 3 years
300,000 won or more within 90 days 5 years
If you organize the contents, if you are over 100,000 won and less than 300,000 won within 30 days, it will not be deleted for 1 year, and your credit rating can be restored after 1 year.
Also, if you overdue more than 300,000 won for more than 30 days, your credit score will drop, and it will be used for credit evaluation for up to 3 years from the date of repayment.
It means that the overdue record cannot be deleted until 30 days, and it is called short-term overdue.
Finally, if it is overdue for more than 90 days, it is called long-term delinquency, and it is used to evaluate your credit score for 5 years.
Long-term overdue records are registered with the Korea Credit Information Service.
If your credit score drops, you will be restricted from using various financial services, so it is recommended that you do not overdue anything, including loans, cards, and utility bills.
For reference, there is no credit rating downgrade for overdue payments of less than 100,000 won.
Check overdue record
Corona credit recovery support policy?
On October 12, 2021, the government deleted some overdue records that occurred in difficult times with Corona.
Credit recovery by deleting overdue records (restricting sharing of overdue history information) for individuals and sole proprietors who have repaid overdue loans of KRW 20 million or less that occurred between January 1 and August 31, 2020 by December 31, 2021 supported.
Corresponding persons can view the results on the Credit For You website of the Korea Credit Information Service.
(Credit Information View Service -> Credit Information Inquiry, Issuance Menu)
Go to Korea Credit Information Service website
Delete overdue record
Deletion of overdue records of Seoul Guarantee Insurance
Many people are also curious about the overdue record of Seoul Guarantee Insurance.
When it comes to overdue records of Seoul Guarantee Insurance, most of them are overdue device prices due to the opening of installment payments on mobile phones.
This is because Seoul Guarantee Insurance guarantees the value of the device when the mobile phone is opened in installments.
If the mobile phone device value is overdue along with communication fee overdue, measures to stop receiving and outgoing may be taken and authority may be terminated.
When the authority is terminated, you will be registered as a long-term delinquent with the telecommunications company, and the record of overdue payment for the terminal installment will be transferred to Seoul Guarantee Insurance.
And if there is such an overdue record, Seoul Guarantee Insurance will no longer guarantee it.
Delete communication overdue record
In order to delete the communication delinquency record, you must first pay the arrears.
It is to pay the overdue communication fee to the telecommunications company and to repay the overdue device value to Seoul Guarantee Insurance.
Seoul Guarantee Insurance overdue records can be inquired at 1670-7000.
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What is your credit rating after delinquency records are deleted?
After delinquency records are deleted, your credit rating does not rise right away.
Deleting the overdue record means that you will not evaluate your credit score with past records, but it does not completely remove the record.
That’s why even if you have repaid the overdue amount, it takes time for your credit rating (score) to rise, and it is recommended that you continue to care about improving your credit rating (score).
The basic thing to recover credit rating (score) is that you shouldn’t be overdue.
It is most important to pay everything on time, including telecommunications bills, loans, utility bills, and credit card bills.
In addition, if you submit payment details such as telecommunication fees, national pension, and health insurance payment details, you can receive additional credit points, so please refer to this point.
Please refer to the article below for places that provide payment details submission services.
Can I raise my credit score by paying my phone bill? (Read it)
In addition, using a debit card is also recommended.
You can get 4 to 40 points if you spend more than 300,000 won per month on a debit card for 6 months or use it consistently for 6 to 12 months.
In Toss, you can check the credit rating (score) of Korea’s leading credit rating agency at once, so we recommend that you refer to the article below.
Check two credit scores for free with Toss Credit Rating Inquiry
(Since credit ratings are calculated according to the rating standards of each credit rating agency, the recovery speed of credit ratings (scores) may also differ from rating agency to rating agency)