On December 22nd, the People's Bank of China issued a one-time credit repair policy, clarifying that from January 1st next year, overdue information that meets relevant conditions will not be displayed in personal credit reports. Who can receive policy support? Why do we need to make a 'one-time' arrangement? How can the public maintain a good credit record? Professionals from the People's Bank of China, financial institutions, and other sources provided in-depth interpretations. The overdue records of individuals who support credit damage but actively repay within the past 5 years in their personal credit reports are important references for banks to issue loans. This policy clarifies the scope and conditions for overdue records that will no longer be displayed: in terms of time, overdue information was generated between January 1, 2020 and December 31, 2025; In terms of amount, the single overdue amount shall not exceed 10000 yuan; From the past, it appears that the individual has fully repaid overdue debts by the end of March 2026. Seeing this news, Mr. Li, a self-employed business in Beijing, was very expectant: "In 2021, my credit card was overdue due to the temporary closure of the shop. Although I settled the arrears later, the house loan has not been handled because of the overdue record. No longer showing the overdue record will help reduce my financing threshold." "Influenced by various factors such as the COVID-19, some personal financial conditions have changed unpredictably and failed to repay the loan at the time agreed in the original loan contract. Although the debt has been fully repaid afterwards, the credit report still needs to display historical overdue records as required, which has had a certain impact on individuals' ability to obtain new loan support. ”At a press conference held on the same day, Zou Lan, Vice Governor of the People's Bank of China, introduced that in order to more accurately reflect the true credit status of individuals and help those who have already repaid their debts to accelerate the reshaping of their personal credit, the People's Bank of China has researched and formulated a one-time credit repair policy based on sufficient argumentation. Zou Lan believes that policies provide opportunities for individuals who have previously been dishonest to make mistakes and corrections, which can strengthen their awareness of fulfilling their obligations and keeping their promises, help the public effectively improve their credit status, and stimulate the vitality of micro entities. For financial institutions, repair policies are conducive to reshaping customer relationships, creating space for them to expand their high-quality customer base and unleash credit demand. The one-time credit repair policy can help commercial banks more accurately identify the true credit status of borrowers, and further enhance the accuracy and effectiveness of financial services by implementing more effective credit allocation strategies. ”Zhao Guide, Vice President of Industrial and Commercial Bank of China, said. Find a balance between "tolerance" and "constraint" and adopt a "no application, enjoy" model, where individuals do not need to apply or operate; Set a grace period of 3 months to allow time for fundraising; An additional 2 offline free opportunities to check personal credit reports have been added, making it convenient for the public to verify overdue records and confirm repair progress... A series of convenient and efficient policy arrangements highlight the policy temperature of "fault tolerance and error correction". Considering the holiday season, we have set the policy grace period to a period after the Spring Festival, which will end on March 31, 2026. ”Ren Yongmei, Director of the Credit Management Bureau of the People's Bank of China, introduced that after sufficient preparation and careful deployment, multiple convenient measures are striving to make policies more smoothly and accurately reach every eligible individual. The reporter learned that individuals who have fully repaid their overdue debts before November 30th of this year (inclusive) will not display relevant overdue information in the credit reporting system from January 1st, 2026. Professor Wu Jingmei from Renmin University of China stated that through precise policy implementation, policies can be loosened for those who have difficulties but actively fulfill their obligations, avoiding them from falling into long-term credit difficulties. Some people also wonder: Does the one-time credit repair policy mean that credit constraints have become relaxed? The policy is a one-time special treatment for credit information that meets the conditions, which only applies to overdue information generated before the end of 2025, and does not include overdue information newly generated in 2026. ”Ren Yongmei explained the rigid bottom line of policy delineation. Those who have not yet settled their debts will not be included in the scope of repair. One time credit repair is not about whitewashing credit information and giving the green light to malicious defaulters. ”Wu Jingmei said that finding a balance between "tolerance" and "restraint", making the credit system both strong and warm, can help enhance the public's sense of identity and gain from policies. Maintaining a good credit record together, credit has already been integrated into every aspect of daily life. The public is increasingly valuing personal credit records, and relevant departments are also making every effort to protect personal credit rights. In recent years, some illegal intermediary agencies have been using excuses such as "credit whitewashing" and "credit scraping" to defraud personal money and resell personal information, seriously infringing on public interests. Ren Yongmei emphasized that the one-time credit repair policy is completely free and "enjoy without application", without the need to entrust a third party to handle it. Any request for money or information in the name of this policy is considered fraudulent behavior. The public needs to be vigilant. If they discover any illegal or irregular clues, they can report them to the People's Bank of China or the local public security organs. Bank of Beijing President Dai Wei stated that if there are temporary financial difficulties, one can proactively contact lending institutions in advance to agree on a solution and adjust repayment arrangements. At the same time, it is necessary to avoid excessive overdrafts or long loans, repay debts in a timely and full manner, and pay attention to accumulating a good credit record. Some illegal intermediaries use the banner of 'debt restructuring' to induce consumers to 'borrow new to repay old' or apply for high interest bridge financing. Individuals who have outstanding overdue debts should remain highly vigilant and avoid falling into debt traps as a result. ”Ren Yongmei said. Zhang Zihong, Director of the Credit Reporting Center of the People's Bank of China, also reminds the public that if they have doubts about the application of their overdue information policies, they must identify formal official channels to solve them, and beware of being deceived and suffering losses. It is reported that the public can first obtain their credit reports through online channels, and financial institutions such as online banking, mobile banking apps, UnionPay Cloud QuickPass apps, and the official website of the People's Bank of China Credit Reporting Center can provide query services. Offline channels such as smart teller machines, self-service inquiry machines, and credit service counters of various branches of the People's Bank of China will also continue to provide inquiry services. We must adhere to the concept of credit reporting for the people. ”Zou Lan stated that the People's Bank of China will comprehensively regulate credit information collection, organization, storage, processing, and use in credit reporting business activities. Serious investigation and punishment will be carried out on behaviors that violate credit reporting regulations, disrupt the order of the credit reporting market, and infringe upon the legitimate rights and interests of information subjects, in order to ensure the healthy and lawful development of the credit reporting market. Experts suggest that the public should view policy dividends rationally, cherish opportunities for credit repair, and adhere to the bottom line of integrity in order to enjoy the convenience brought by good credit in the long run. (New Society)