I can’t borrow money is a common problem among many Dutch people. But what exactly do you have to do to be able to borrow money and perhaps a more important question is why you cannot do this. Does it have to do with problems from the past where you have been listed on the bkr, or is it simply because your income is not high enough to realize this.
In this article, let’s delve deeper into the question of what your wishes are with regard to the amount for which you are going to use it and why it was not possible before.
I can’t borrow money
There is a large group of people who cannot borrow money because they do not have enough income. However, there is a solution for this problem, for example if you want to apply for a revolving credit or a personal loan of 10,000 euros. To be eligible for this you must have a regular income of around 1400 euros net per month.
However, if you don’t have this, you can do a number of things to get it done. Ask if your partner is also signing up for the loan, the monthly income will then be added up and you will certainly be able to reach the threshold of 1400 euros. If you do not have a partner, ask if someone can guarantee you, this way you can still apply for a loan with too little income.
Borrow small amount
On the other hand, there are many thousands of households in the Netherlands that cannot borrow money because they have had a negative BKR registration in the past. Even if you have completely eliminated the payment arrears and you therefore no longer have any debts with payment arrears, this notification will remain for 5 years and lenders will be extremely reluctant to grant you a new credit. It will also be a difficult job with someone who wants to guarantee you.
The only thing you can do in your situation is to borrow a small amount of up to 800 euros with a so-called mini loan. I will explain below how you can apply for this, what you should pay attention to and how quickly you should repay this small amount.
Apply for a mini loan
With applying for a mini loan, having a negative bkr is no problem for the simple reason that no review is being carried out. You can quickly borrow an amount from 50 euros with a maximum of 800 euros, you can choose the speed of repayment yourself, if you opt for fast then you pay back the entire amount in 15 days.
Other options are 30 days and 45 days. The interest you pay is never more than the legally determined maximum, the percentage that you have to pay is sometimes lowered by the lenders so I will not mention this here either.
Do I have to pay a lot of costs
Fortunately there are several providers active, so there is something to choose from. You have a certain amount of control over costs, if you want to borrow money without credit verification within 10 minutes on your account, this will be seen as an extra service and you will therefore have to pay for it.
If you are not really in a hurry to get the requested amount into your account, then you will not use this service, if you do it this way you will only have to pay the interest and no additional costs. There are also providers who have incorporated this fast method of payment (the same day) in their application, so here you have no choice and you must include the costs for quick payment in your application as standard.