What about ... a BKR registration?
Customers regularly ask me if they can borrow money with a BKR registration. I can well imagine this question. A round of Googling yields contradictory information. One site says "impossible!" and the other says "yes!" without any problem. I understand my customers confusion because what about really? I searched it out for you and listed the facts.
What registers the Credit Registration Office
Let's start at the beginning. Credit Registration Office is an independent foundation that registers the borrowing and repayment behavior of consumers. If you borrow more than € 500, this will be recorded. The BKR registers the following loans:
- Credit card
- Being red
- Revolving credit
- Personal loan
- Customer card with credit
- Mortgage payment arrears of more than 120 days
There are also loans that the BKR does not register, namely: a student debt, rent arrears, mortgage, family loan and payment arrears with energy companies.
A positive BKR listing
A BKR listing does not necessarily have to be negative. More than 9 million Dutch people are registered with the BKR. The vast majority of those registered have a positive rating. This means that they neatly repay their loan every month.
A negative BKR listing
About 5% has a negative BKR listing (A listing). If you do not meet the payment obligations of your loan, you will receive a negative listing. You will always be warned in advance by your lender. A negative BKR listing will remain for 5 years. During these 5 years it is often difficult to borrow money.
Borrow money with a positive BKR listing
With a positive registration you can usually just borrow money . To determine how much money you can borrow , banks take into account your outstanding loans and the ratio between your income and expenses. For a bank it is important that you can pay the loan and interest. The lower the default risk, the higher and cheaper the loan.
Take out a loan with a negative BKR listing
Borrowing money with a negative BKR registration is difficult . Especially since the credit crisis. Banks are cautious about lending and are risk-averse. Sometimes it is possible. A lender determines per situation whether a consumer will receive a loan. If you can get a loan with a negative BKR registration, the costs are often higher. Keep this in mind and compare multiple providers.
The mini loan? A personal loan!
The mini loan is a tempting loan for consumers with a BKR listing. A mini loan is a loan for a maximum of € 1500 that you take out within a few minutes. This seems attractive, but the opposite is true. The costs are always very high . In addition, a mini loan often has to be repaid within a very short time. I advise you to opt for a Personal Loan . This is a responsible loan at a low interest rate.
Finally: pay attention to your personal situation
There is no ready-made answer to the key question of this article. Borrowing money with a negative BKR registration is not possible with us. However, more and more customers are succeeding in having their negative BKR removed, because the negative consequences (no mortgage / no loan for a car) are severe and are disproportionate to the cause.
So it always depends on your personal situation. That's exactly what I like about my job. It is always a challenge to find the best option for my customers. Also in the case of a BKR registration.