Group 5 bad debt under 10 million has been paid off, can I borrow?

Group 5 bad debt under 10 million VND are outstanding loans with total principal and interest of less than 10 million dong. But when you have bad debt in group 5 of this group, if you know how to handle it, you will quickly get rid of bad debt on CIC and can continue to get bank loans.

Group 5 bad debt is a group of bad debts that are overdue for 360 days or more. Customers will be subject to very heavy penalties. In addition to the penalty fee for late payment in accordance with regulations, the ability to borrow capital is also limited for 5 years. But for a loan balance of less than 10 million, you can borrow money right after paying off the loan.

What is bad debt group 5 under 10 million?

Group 5 bad debt is a debt that is overdue for payment from 360 days or more. Customers with bad debt group 5 will have to pay a penalty fee equal to 150% of the original interest rate. At the same time, when paying off the outstanding balance, you will not be able to participate in any loan products within 60 months.

No small number of 5 people 10 million

Group 5 bad debt under 10 million is a loan with a total outstanding balance of principal and interest below 10 million dong. The total amount to be paid is less than 10 million VND.

Bad debt 5 under 10 million has been settled, can borrow money?

Having bad debts 5 has been settled with a value of less than 10 million can borrow capital when the debt has been paid off.

When having bad debt, group of 5 customers are often confused and give up and do not find a way to fix it. But if you look closely, your loan currently has a total outstanding balance of less than 10 million. At this point, we can proceed to pay off the loan immediately to quickly get rid of the bad debt group.

No small number of 5 people 10 million

According to the State Bank's regulations, currently CIC (national credit center) does not provide information storage for loans with outstanding loans of less than 10 million VND. That means if you get caught Group 5 bad debt under 10 million VND. But after being paid in full, bad debt information will be deleted on CIC without having to wait 5 years to be able to borrow anymore. And now you can borrow money from banks and financial companies without having to worry about bad debt anymore.

But in fact, there are some units that do not accept loans to customers when they have bad debts of group 5 even if they have been paid off. This is because your personal reputation level has been reduced. Banks do not dare to trust lending again. So, consider carefully before applying for a loan.

But you can still Borrowing monthly installments just need ID card at loan apps, financial companies.

How long does it take for bad debts of group 5 under 10 million to be written off CIC

Normally, bad debt groups 5 will take about 60 months (5 years) to erase the entire bad debt history on CIC. But for a debt with a balance of less than 10 million, it is completely different.

Bad debts under 10 million are loans with low balance. And according to the new regulation of the State Bank of Vietnam, overdue debts with a value of less than 10 million won't be able to collect credit history information on CIC.

That means, if your debt has a balance of less than 10 million VND. After paying the entire outstanding amount, the bad debt will be deleted right on CIC and not stored anymore.

Will group 5 bad debt under 10 million be prosecuted?

There are many of you who are worried that bad debts of group 5 under 10 million will be sued and prosecuted.

According to regulations, loans with outstanding balance of 2 million or more and overdue for 36 months. At this time, the lender can make a file and sue to reclaim the principal and interest in accordance with the commitment of the credit contract.

However, in reality, debts with a limit of less than 10 million won will not be responsible and will not be prosecuted and prosecuted. Most of the loans under 10 million are borrowed from financial companies and loan apps. These units lend money at an interest rate that exceeds the specified limit.

For that reason, they will not file a lawsuit against a prosecution. You only face the trouble caused by the debt collection measures of the borrower.

Instructions to write off bad debts of group 5 under 10 million VND

For any overdue debt, penalty fees and interest will be charged. The longer you wait, the larger the amount will be. Therefore, it is best to write off bad debt immediately.

Step 1: Actively contact the lender to check the bad debt group you are having. and how much you need to pay.

Step 2: Go to the branch of the lending unit's transaction office to complete the payment procedures.

Step 3: Pay the fine and receive a payment confirmation.

Step 4: Check on the CIC system whether your bad debt history has been deleted or not. Note that there are many cases where the payment has been completed but the staff does not clear bad debts. So you need to pay attention.

Summary

Bad debt 5 under 10 million VND According to regulations, it is possible to borrow and be deleted when the payment has been completed. But not all units give loans to customers who have had bad debt in group 5. Hopefully, with this article Nganhangmobile.com has helped you have the best loan knowledge.