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Borrow money with BKR

 

Borrowing money costs money, almost everyone knows that. Yet many loans are taken out in the Netherlands every day. That does not mean that this is always wise: it is precisely through (too much) borrowing that a considerable debt can arise, which can sometimes only be repaid with difficulty. However, sometimes you (almost) cannot avoid taking out a loan, for example because you have to have an emergency repair performed on your dormer window or because your washing machine has suddenly failed. In such a case, if you have no savings at hand and a negative BKR listing, it can sometimes be very difficult to take out a loan.

Borrowing money with BKR: harder than ever?

Borrowing money with BKR: harder than ever?

Borrowing money with BKR, or taking out a loan while holding a negative BKR listing, was not easy in the past either. Later, several “money companies” sprung up like mushrooms: all of a sudden, taking out a loan was easier than ever. This is now also a thing of the past. Since 2014 it has been virtually impossible to take out a loan with some BKR listings. To understand how this works, you must first know in which ways you can be known at the BKR.

The BKR has two essential codes:

The BKR has two essential codes:

  • Code A;
  • Code H.

For many lenders, Code A is comparable to a red flag: this is the code that indicates payment delays. Borrowing money with BKR code A after your name is impossible with almost every lender. With code H, on the other hand, many financial institutions still want to provide you with a loan: code H indicates that there has been a payment arrears, but this has since been fully recovered.

Have you taken out loans before, but have there never been any payment arrears? Then you have a neat “loan according to the book” and you do not have a special code.

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