How does loaning money work in Holland and can you be sure that all these loans are totally safe?
The Netherlands Authority for the Financial Markets (AFM) regularly warns against illegal credit providers. Therefore, always check (if the credit provider is not a known bank) whether the credit provider has an AFM license. The most of Dutch creditors have an AFM licence and checks all parties with whom it cooperates to ensure that they also have an AFM licence. But if you want to use a creditor that offers geld lenen zonder BKR it is wise to check out all the different interest rates to make sure you pay normal fee’s for your loans. Offcourse these will differ between all the different providers so we gladly advice you to start comparing all these loans first.
2. Consider whether you can continue to pay the monthly fees.
If you expect changes in the (near) future, take this into account when taking out the loan. Are you moving soon? Is there a realistic chance that you will become unemployed? Is there a child on the way? Will one of your children soon be studying and/or living in rooms? In all these situations, remember that with a loan you probably have less money to spend each month.
You can take out insurance to cover the risk that you will no longer be able to cover the monthly costs in the event of unemployment, incapacity for work or death. But even with an insurance policy, you need to think carefully about your future before you decide to borrow.
3. Do not borrow more than necessary.
If you want to avoid possible payment problems, never borrow too much. Payment problems can lead to you ending up in debt restructuring, which is certainly not desirable. If, for whatever reason, you are no longer able to pay off the monthly payments for the loan, you will enter a downward spiral that goes from bad to worse. If, unexpectedly, you do get into trouble, seek help as soon as possible to limit the damage. An extra loan is never a solution. On the site of the Nibud and the AFM you will find tools to prevent payment problems.