Is there a credit report on Paipai Loan? Does it affect me borrowing elsewhere?

Paipai loan overdue is required to go on the credit report, but after the paipai loan is overdue, it will affect the credit of Baihang instead of the central bank's credit. If the overdue person is overdue for a long time, the microfinance institution will upload the overdue record to Baihang Credit. That is to say, if the loan is overdue, the overdue record will be recorded in Baihang Credit, as long as it is connected to Baihang Credit Institution, it can be checked, which will have a negative impact on the borrower's credit.

In general, if it is overdue for a relatively short time, it will not be credited. If the overdue time is more than one month, Paipai Loan may report the overdue information to the Baihang credit information system.

Additional Information: Paipai (NYSE:PDF) is a fintech company founded in Shanghai in 2007 and successfully listed on the New York Stock Exchange on November 10, 2017.

As of June 30, 2019, the cumulative number of registered users reached 99.02 million. The cumulative number of borrowers was 13.4 million; The cumulative number of investment users is 10,000 people, achieving continuous growth; The re-borrowing rate increased from the same period last year to .

Paipai Loan is the first company in China that has been specially approved by the industrial and commercial department"Financial information services"The business scope is licensed, and it is an Internet financial platform that has been recognized by the world. With advanced concepts and innovative technologies, Paipai has established a safe, efficient and transparent Internet financial platform to standardize personal lending behavior, so that borrowers can improve their production and life, and lenders can increase investment channels. We believe that with the development of the Internet and the improvement of China's personal credit system, advanced concepts and innovative technologies will bring historic changes to private lending, and Paipai will be the leader of this change.

As one of the first council members of the Internet Finance Association of China, Paipai puts legal compliance in the first place, follows the essence of finance, takes data as the cornerstone, uses innovative technology to provide users with financial services, and continues to invest in the field of financial technology and smart finance, and has developed a technology that integrates big data, cloud computing and artificial intelligence"Magic Mirror"Big data risk control system. Paipai also applies big data analysis and AI-based technologies to credit review, risk control, precision marketing, and intelligent customer service"Mutual benefit economy"to help the development of inclusive finance in China.

Above. Paipai is on the credit report, and there will be a number of credit information platforms.

At the end of 2017, Paipai announced that it had been connected to a number of credit information platforms, and in addition to the central bank's credit information system, Sesame Credit and the "Credit Information Sharing Platform" of the Internet Finance Association of China would record the credit information of Paipai users. Therefore, users who apply for and use Paipai Loan must pay attention to repaying the loan on time and protect their credit.

On February 26, 2020, the cabbage financial platform issued an announcement that the cabbage financial platform has recently completed the data docking of the People's Bank of China Credit Information Center (hereinafter referred to as "Central Bank Credit Information"), and all borrowers' credit information related to borrowing will be regularly and fully reported to the central bank credit information system.

Previously, the asset management blackboard newspaper reported that a number of platforms such as Yiren Loan, Paipai Loan, Huizhong.com, Xiangqian Financial Services, Duolerong, Henghuirong, Shoujin.com, Daokou Loan, PPmoney and other platforms have announced access to the central bank's credit information, and the P2P platform has ushered in substantial progress in accessing the central bank's credit system, and the country has continuously increased its efforts to crack down on debt evasion.

After P2P institutions are connected to the credit reporting system, they are included in the scope of credit reporting supervision, and as reporting agencies, they are required to cooperate. From this point of view, the construction of the system is actually the protection of the rights and interests of financial consumers.

It should be noted that P2P online lending institutions are also required to provide credit reporting agencies with information on the interest rates of the online loan transactions matched.

Among them, the interest rate exceeds the loan interest rate supported by the people's court in the "Provisions of the Supreme People's Court on Several Issues Concerning the Application of Law in the Trial of Private Lending Cases".

In accordance with the "Regulations on the Administration of the Credit Reporting Industry", information subjects have the right to raise objections and request corrections to the operating bodies of the Basic Financial Credit Information Database, credit reporting establishments such as Baihang Credit, or P2P online lending institutions.

According to Yang Dong, director of the Financial Technology Research Center of the Future Rule of Law Research Institute of Chinese University, the submission of interest rate information can strengthen the regulatory authorities' grasp of the platform, strengthen the transparency of interest rate information, and help better supervise P2P institutions.

However, this does not mean that the debt can not be repaid, the principal of the loan and the interest within the protection of the law need to be repaid, and the part exceeding the provisions of the SPC can be withheld, or it can be claimed that it should not be recorded.