It can be a major obstacle. You want to borrow money, but you are stuck with the BKR test that almost all banks carry out. If you are registered in a negative way, it becomes very difficult to borrow a reasonable amount. After all, most banks will immediately say no when they see that you have had problems in the past. That is why quite a few people nowadays are looking for alternative ways to borrow money. Methods where testing is less important are therefore increasingly being applied.
Although the BKR has started to play an important role in the world of providing credit, there is no obligation to do anything about this. There are therefore many new lenders who do not review the assessment of certain types of loans. For example when it concerns small amounts or a short duration. They do not look at what kind of registration you have. Or they allow this only to a limited extent. So you often know what the possibilities are within a day and in some cases you even have the money. This way, you can trade much faster than when you have to check a lot.
In most cases it is a loan that you only need for a short time. For example, because you needed money quickly to make a certain investment. Sometimes unexpected things come your way. There are companies that help you with this. They understand that sometimes a solution is urgently needed. On the other hand, the costs for the loan are often slightly higher. The interest that you have to pay is often of a higher percentage. On the other hand, the amounts are lower, up to a maximum of fifteen hundred euros. That means that you don’t have to spend a lot in absolute amounts.
The assessment at the BKR means that the institution that provides the money checks your course in terms of loans and credits. They can view information about which loans you took out and how you were used to paying. If you have a backlog then they can see this. Anyone who has been behind payment for more than two months will receive a negative registration. When you have made up the arrears you will receive a registration restored after your name. The registrations can be viewed for up to five years. This means that you can continue to be confronted with a short period of difficulties for a long time.
Pros and cons
Of course every situation has advantages and disadvantages. This also applies to borrowing money without a BKR check. After all, if the BKR is not involved in the story, you cannot fall back on it if it proves necessary. On the other hand, the agencies that do use the BKR intend not to provide you with a loan. So you do not even have the option of getting into a situation where the agency is needed, since you do not have a loan that must be paid off.