Transfer an expensive Wehkamp loan to a cheaper personal loan with good conditions
At Snaploan Online, we transfer quite a few Wehkamp credits to a personal loan. We take over the balance of a Wehkamp loan for even about 25% of the new files.
What does that mean, take over a balance? Consumers who have a 'spread payment' credit at Wehkamp usually pay 14% (!) Interest on it. Usurious interest that - although just legally permitted - is outdated. As soon as a customer has taken out a personal loan with us (with an interest rate of 3.5%), the entire outstanding Wehkamp debt can be paid in one go with this loan amount.
The customer then pays off the personal loan properly within an agreed period, with an interest that is many times lower (from 3.5%) than the usurious interest at Wehkamp (14%). It is also no longer possible to withdraw interim amounts, as is the case with Wehkamp ('extra credit'). This makes a personal loan for financially vulnerable consumer customers the fastest, financially safest and most transparent way to get rid of their debts.
In this article, we explain why a credit with Wehkamp is a bad idea and how you can transfer such a credit to a safe and affordable personal loan.
Undercover at Wehkamp: the hard facts
A Volkskrant journalist recently went undercover at Wehkamp as a call center employee. His article shows that Wehkamp is regularly called by customers who have run out of money . No more money to make purchases, but especially no more money to pay off their outstanding debts.
These customers in need have a 'installment payment' arrangement with Wehkamp. That is a loan at a usurious interest rate of 14%. The 2019 annual report shows that 8% of Wehkamp's profit comes from these 'payment in installments' loans. Pretty lucrative for the online shop. But for their customers, staggered payments are a financial obstacle: those who build up a few hundred or even thousands of us dollar debt and try to pay it off, mainly pay the interest. For example, it takes a long time before Wehkamp customers can get rid of their debts.
A Wehkamp customer who is in trouble financially is much better off taking out a personal loan with a decent interest rate with a lender and thus paying off the Wehkamp debt in one go. As we indicated at the top of this article, quite a few Wehkamp customers know how to find us for this solution.
The above Volkskrant article shows, however, that Wehkamp call center employees are strictly trained not to present this way out of debt to their customers. Profit is central to the company, even if this is at the expense of the customer.
Wehkamp is not the only online shop that offers the very expensive 'purchase on installment'. We regularly warn against the dangers of payment in installments and unclear debts when buying on installment.
That warning is not for nothing. Research by the BKR shows that an alarming 26% of consumers, who opted for installment payments / purchases, are faced with payment arrears.
If you want to borrow money, it is therefore wise to orient yourself well in advance, to avoid unnecessarily long / high debts or even payment arrears.
How can I borrow money responsibly?
Borrowing money is not fun for anyone. But sometimes there is no other option, in the event of an unexpected necessary expense or when there is not enough money in the account to make a long-term investment. We recently listed a top 8 of the most meaningful loan goals .
At number 3 in this list is the free transfer from an expensive loan to an affordable and responsible personal loan.
With us it is also possible in many cases to have your expensive Wehkamp loan transferred to a much cheaper personal loan.
What does a personal loan mean and why is such a loan much more responsible for consumers than a Wehkamp credit?
What can a personal loan mean for you?
The biggest advantage of a personal loan is that you will receive a fixed amount in your account in one go, with which you can immediately repay your Wehkamp credit in full. This amount varies between US $ 5000 and US $ 150,000.
What are the other favorable conditions of a personal loan?
- We currently offer the lowest interest rate in the Netherlands: from 3.5%.
- The interest is now historically low and is fixed for the entire term of the loan. So no unpleasant surprises and a fixed, decent interest.
- The term is fixed. Unlike with your Wehkamp credit, you therefore know exactly when you have repaid the loan and can go through life debt-free again.
- Do you have a financial windfall? You can always make extra repayments in between and you do not pay a fine. After all, the aim is to get rid of your debts as quickly as possible.
- Your debt is highest when you take out the loan. You repay monthly and therefore see your debt shrinking every month. Very motivating for those who finally want to get rid of his / her debts.
Request a quote without obligation and discover whether you can get rid of your Wehkamp debts much faster.
Many have already preceded you. Read here the experience of a satisfied customer for whom we have been able to refinance expensive loans!
" Their mediation was fast and transparent. I was able to transfer a few loans cheaply. "
- Arjen N via Trustpilot.nl