Can you borrow money quickly without BKR? Yes, that’s possible. There are companies that lend you money without seeing if you have a BKR registration. Borrowing money is therefore always possible. That seems too good to be true. It actually is, because there are high costs associated with borrowing money without reviewing the BKR. Companies that are willing to lend you money quickly, often within 10 minutes, are certainly not charities. On the contrary, those companies want to earn a lot of money quickly.
Online loans for very bad credit: quick cash in a day
Do you have bad credit? Then you are certainly not the only one. In the Netherlands, many thousands of people have bad credit for various reasons. It is still possible to borrow money. There are companies where you can take out an online loan for very bad credit, you can try purplepaydayloans.com for free today. You can borrow a modest amount. You must repay that amount within a few weeks.
Borrow a modest amount with a mini loan within 10 minutes
Taking out a mini loan via the internet can often be done within 10 minutes. You can borrow an amount as quickly as possible up to a maximum of 1500 USD. The companies that provide a mini loan do not perform a BKR check. You must be able to repay the loan amount a few weeks later. An amount up to 700 USD must always be repaid in one go, while you can pay an amount from 800 USD in two installments.
The disadvantages of the mini loan within 10 minutes
It seems useful that you can borrow a modest amount within 10 minutes without reviewing the BKR. Thanks to that loan you are temporarily out of the fire. However, you must bear in mind that a mini loan also has many disadvantages. For example, as noted earlier, you must be able to repay the loan amount in one or two installments a few weeks later. Moreover, you must repay more than the amount that you have borrowed. The interest rate for a mini loan is around 14 percent. This is considerably more than the interest rate between 4.2 and 7 percent that banks and lenders charge for loans with a review of the BKR registration.
A mini loan not only has high-interest costs. The provider of the mini loan wants you to leave a guarantee. That can be a personal guarantee. Someone you know then declares that you are able to repay the loan amount. Can’t you repay in time? Then the guarantor is obliged to pay back.
Many people find it annoying to ask someone to act as a guarantor. That is why they opt for an external guarantee. The company that guarantees you requires a considerable amount of this. It is not unusual for the extra costs for a mini loan of 500 USD to be around 150 USD. So those are considerable extra costs. Do you want to borrow money within 10 minutes? Then remember that you have to pay a high-interest rate and considerable extra costs. Extra costs may also be associated with quickly transferring the money to your account.
Take out a mini loan?
You need money quickly. You do not want the lender to inquire at the BKR, because you have a negative BKR registration. A mini loan seems to be the solution. After approval of your application, the money is often in your account the next day. For example, you can now pay the rent on time. However, bear in mind that a mini loan involves high costs. Moreover, it is not always possible to repay the borrowed amount in a period within a few weeks. It is therefore not advisable to take out a mini-loan within 10 minutes, without BKR review. The costs are much too high. There is, therefore, a good chance that you will get into financial problems even further. Can you not repay a mini loan on time? The providers of a mini loan, often even if you are only one day late, charge high fines. Do you unexpectedly have money problems? Remember that a mini loan, also called a flash credit, because a mini loan can often be taken out within 10 minutes and without checking the BKR, is never a good solution.
The very best advice is of course not to make debts. Unfortunately, that doesn’t always work. After all, you can be confronted with unexpected costs. Do you have to borrow a small amount unexpectedly? Then at least take the time to delve into the different possibilities.