Pursuant to Article 21, subparagraph 9 of Regulations Governing Authorization and Administration of Service Enterprises Engaged in Interbank Credit Information Processing and Exchange, the expiration date of credit-related information and the scope this information can be disclosed to and inquired by the financial institutions are as follows:
1. Records on overdue, collectable record, and delinquent loans record: three years from the date of payoff. But if the delinquent loan remains unpaid, the disclosure period will be five years from the date of transfer/write-off.
2. Records on dishonored checks: three years from the date of check bouncing. But if the dishonored check has been paid off and the notation of payoff is completed, the disclosure period will be six months from the date of completing the payoff notation; if the “denied service” status is lifted in advance, the disclosure period will be six months from the date of early lift-off of “denied service” status.
3. Records on bankruptcy record: ten years from the date of declaration.
4. Credit card:
(1)Card cancellation: five years from the date of cancellation. But if
the card was cancelled by the issuer due to non-payment, the
disclosure period will be seven years from the date of cancellation if
the amount outstanding remains unpaid, or six months up to
seven years from the date of cancellation if the amount
outstanding has been paid off. (“Payoff” means the payoff
of amount outstanding that led to compulsory card cancellation,
excluding the payoff of other amounts owed.)
(2)Merchant data: five years from the date merchant contract is
cancelled.
(3)Cardholder payment record: one year from the payment due date;
collection and delinquent payment record: six months from the
date of payoff or five years from the date of transfer/ write-off if the
delinquent payment is not paid off.
5. Accountant disciplinary action record: five years from the date the disposition or disciplinary action is imposed, or permanent if the approval for certifying CPA is revoked and the accountant is delisted.
6. Other bad credit record: five years from the date of fact.
The disclosure of other data ends when the specific purpose of disclosure ceases to exist.