Don’t believe in the “credit reporting repair” advertisement, beware of the loss of financial
and credit information.
In recent years, some institutions or individuals have taken advantage of consumers’ lack of credit reporting knowledge and legal common sense to confuse the concepts of credit reporting objections and credit restoration, and formed a collection of credit reporting restoration training based on the so-called "credit reporting whitewashing" and "credit reporting restoration". , Franchise agent, and personal information sales in a gray industrial chain.
Relevant people in the central bank remind everyone that neither credit reporting agencies nor commercial banks have the right to change or delete the credit information correctly displayed in credit reports at will; there is no such thing as "credit reporting repair" in the credit reporting field; all credit reporting information is carried out. "Overdue shoveling orders" and "whitewashing and repairing" are all frauds.
Routine One
Receive money first and promise to "launder" credit information
Block customers after the incident
A reporter from Beijing Youth Daily conducted an inquiry on the China Judgment Documents website and found that in recent years, there have been many fraud cases or contract disputes related to "credit restoration" in various places.
In June of this year, a judgment document published by the Intermediate People's Court of the Guoluo Tibetan Autonomous Prefecture in Qinghai Province showed a typical "credit investigation repair" scam.
In May 2020, Ang wanted to buy a house, but was unable to obtain a bank loan because of a bad credit record.
Through his friends, he met Zhang who claimed to be able to "repair the credit investigation". Zhang promised to fix the matter, but asked Ang to transfer 15,500 yuan to Zhang twice as the first payment.
On August 6, 2020, Zhang told Ang that the credit investigation was repaired and he needed to transfer all the remaining funds, and asked him to check with the People's Bank in a few days.
Believing it was true, Ang transferred the 19,500 yuan promised in advance to Zhang on the same day.
Afterwards, Ang went to the local People's Bank branch to inquire, and found that the relevant information had not been repaired at all.
Angrily, Ang contacted Zhang many times and failed, only to find that Zhang had blacked himself out.
The court held that Zhang defrauded another person’s property for the purpose of illegal possession of 35,000 yuan in the name of restoring credit information, which was a relatively large amount, and his behavior constituted a crime of fraud. Considering that he voluntarily pleaded guilty and punished, he could be punished with lenient punishment, and finally committed fraud. Zhang was sentenced to fixed-term imprisonment of one year and one month and fined RMB 5,000.
Routine Two
Make up a lie to lie to the bank
Just collect the money and do nothing
Mr. Zhu runs an automobile trading company. During his work, he found that many customers were unable to obtain loans due to bad credit information, so he developed the idea of repairing credit information for customers for profit.
Starting around May 2019, he undertook the credit reporting repair business under the name of Automobile Trading Co., Ltd., and he posted information on WeChat Moments, falsely claiming that as long as customers provide personal credit reporting reports, copies of ID cards, and new real-name calling cards, etc. Materials, after paying the repairing credit investigation fee, the credit investigation problem can be repaired within half a month to three months. If the repair is unsuccessful, the money can be refunded.
How exactly does Zhu "whitewash" credit investigation for customers?
It's all nonsense.
He usually uses the mobile phone card provided by the customer to call the bank customer service who has overdue loans in the name of the customer, fabricating the customer's overdue reasons such as falling into a MLM organization, losing personal freedom, and being unable to repay the loan in time, and then let the customer use these fabricated reasons. The bank submits a personal credit reporting objection statement report.
After some customers paid the fees, Zhu did not even do anything.
The verdict showed that from June to November 2019, the 10 victims in this case were defrauded of a total of 126,000 yuan in repair credit investigation fees.
Zhu was also sentenced to three years’ imprisonment, suspended for four years, and fined RMB 50,000 for committing fraud.
Routine Three
Sign the "Credit Investigation Reconsideration Service Agreement"
Illegal content of the agreement is an invalid contract
In July 2019, Ms. Zhou of Xi’an signed a "Credit Investigation Reconsideration Service Agreement" with an information company, stipulating that the company would restore the credit investigation report details within 15 to 90 days from the date when Ms. Zhou prepared all the information. The overdue record of the reconsideration, the total cost is 18,000 yuan, if the service cannot be performed, the company must refund all the fees within 7 working days.
On the same day, Ms. Zhou paid 18,000 yuan.
After nearly a year passed, Ms. Zhou's overdue record remained unchanged. She contacted the other party many times, and the other party neither told the reason nor refunded the money.
In desperation, Ms. Zhou sued the company to the court.
The court held that the "Credit Reconsideration Service Agreement" signed by Ms. Zhou and this company stipulated that: "Party A will repair the reconsideration overdue records of the institution in the credit report details within 15-90 days", which is obviously a violation of administrative regulations. Therefore, the "Credit Investigation Service Agreement" is an invalid contract in accordance with the law.
The Credit Information Center is a non-profit-oriented public institution established by the People’s Bank of China. It is a professional operating agency responsible for the construction, operation and maintenance of corporate and personal credit information systems. The basic personal credit information database of the Credit Information Center reflects individuals. The credit transaction records of is a true reflection of history and cannot be modified by other institutions at will.
At the same time, according to relevant regulations, if Ms. Zhou disagrees with the credit recorded in the personal credit report, she should make a complaint or reconsideration through statutory channels, instead of modifying the credit records by other means other than statutory channels.
Because the content of this "Credit Investigation Service Agreement" was illegal and was an invalid contract, the court ordered the information company to return 18,000 yuan of illegal income to Ms. Zhou in accordance with the law.
Central bank reminder
"Credit Repair" is a scam
Illegal modifications will cause adverse effects
"'Credit information repair' is a scam! Anyone who conducts credit information'overdue shoveling and whitewashing and repairing' is a scam." A relevant person in the central bank said that criminals used "credit information repair, whitewashing, and shoveling". Open business or publish advertisements in the name of "objection, appeal, consultation, agency", some of them lose contact after charging a high fee, some abet individuals to make unreasonable complaints with "non-malicious overdue" reasons, or use false materials and other illegal methods to modify the bad Information, usually no refund or loss of contact after the modification fails.
According to Article 16 of the "Regulations on the Administration of Credit Reporting Industry": "The retention period of bad personal information by credit bureaus shall be 5 years from the date of termination of bad behavior or incident." According to relevant laws and policies, personal credit report bad records Not applicable to "credit repair", bad records are automatically deleted 5 years after the bad behavior or event ends.
The use of unconventional methods not only fails to remove the unmistakable bad credit records, but can even cause adverse effects on individuals.
This group of articles / our reporter Cheng Jie
Coordinator/Photo courtesy of Yu Meiying/Visual China
Confuse
What happened to the "Successful Whitewashing" case?
A reporter from the Beijing Youth Daily found that some netizens also shared cases of "successful whitewashing".
Some people say that they paid a high price to ask people to "repair the credit report", and the overdue records are really gone.
What exactly is going on?
"There is no concept of'credit reporting repair' in the credit reporting system. The claims on the Internet that personal credit reporting can be repaired are false propaganda. The essence is to deliberately confuse the difference with credit reporting objections and make the information subject mistakenly believe that it can be changed at will Or delete credit information." A person from the central bank's credit information department said.
Credit investigation objection is essentially an error correction mechanism of "correction of errors", which is different from the restoration of "after the breach of trust" to rebuild credit.
Information providers such as credit reporting agencies or commercial banks have the obligation to truthfully report credit information, and have no right to change or delete unerring information displayed in the credit reporting report at will.
However, if the information subject believes that there are errors or omissions in the information collected, stored, or provided by the credit reporting agency, it has the right to raise an objection to the credit reporting agency or the information provider and request correction.
In addition to applying for an objection in person, you can also appoint an agent to apply for an objection.
It is understood that such errors and omissions are generally caused by special circumstances such as bank mistakes and identity theft by criminals. I can file an objection in accordance with the law, and I do not need to spend a lot of money to ask someone to handle it.
Some consumers do not know the procedures for handling objections and are fooled by someone who has spent the wrong money. The basic information that needs to be submitted is actually provided by them themselves.
More often, people engaged in "illegal credit restoration" negotiate with banks by resorting to tricks of falsification and selling miserable pleadings.
They instigated individuals to make unreasonable complaints on the grounds of "non-malicious overdue" and even forged false materials.
A person with a short experience in the "credit reporting and repair" industry said that during the training, the "teacher" told them that going abroad, illness, car accidents, being abducted by pyramid schemes... all can be fabricated reasons for "selling miserable". "Teacher" also emphasized that "must be reasonable, don't make sense by yourself, it is best to provide some details based on these reasons, so that it is not easy to be exposed."
In order to make these fictitious reasons appear more real, the "credit information repair" agency will even forge certification materials for customers.
In addition to fraud, criminals have another trick, which is to threaten banks to lodge a complaint with supervisory authorities.
A person from a joint-stock bank said that generally due to force majeure, credit problems or failures that can prove to be the bank's fault can be filed with the bank for objection, otherwise it would be of little significance to lodge a complaint against the bank.
Banks will never arbitrarily delete or modify the data on the credit investigation system.
The person reminded that consumers need to provide detailed personal information in the process of "credit recovery". If it is illegally used by criminals, it may cause greater losses.
Dong Ximiao, a part-time researcher at the Institute of Finance of Fudan University, said that the so-called credit information restoration agencies actually use illegal and malicious complaints to force financial institutions to make concessions. If this method succeeds, it will cause distortion of credit records and affect the entire collection. The objectivity, independence and authenticity of the trust system.
Dong Ximiao reminded consumers that they must not trust these credit information restoration agencies. If they have any objections to their credit records, they can raise them through legal and compliance channels.
The most important thing is to develop the habit of reasonable borrowing and living within your means. Don't borrow excessively or blindly borrow. Personal credit is the "second ID card", and you must cherish and maintain your personal credit record.