The loop itselfA recorder writes across its disk from one end to the other. On reaching the end it goes back to the beginning and records over what is already there, and it keeps doing that for as long as it has power. There is no deletion, no bin and no undo step.
Nobody can tell you how longNot over the phone, and not from the make and model. The window turns on disk size, how many cameras are recording, the resolution, the frame rate, the compression and whether the unit runs continuously or only on movement. A figure quoted without seeing the system is a guess.
How you find that outYour own recorder will tell you. Open the playback calendar and find the oldest date it still offers on each camera. That date is the answer for today, and it moves forward every hour the unit stays on. Note it down before anything else.
What overwritten meansA block on a disk holds one state at a time. Once new video occupies a block, what was there stops existing; there is no earlier layer underneath to be read out. Where a period was only partly written across, fragments often survive and we go after them. Where it was fully written across, nothing comes back, and anyone saying otherwise is selling something.