The Credit Score Agency maintains almost all personal loans and revolving credit in the Netherlands. A delay of a few months in the repayment yields a listing. This is also known as negative Credit Score and ensures that no money can be borrowed from a Dutch bank until 5 years after the end of the loan. It may then be attractive to borrow money abroad. Some lenders advertise that there are enough opportunities for credit. However, insurance premiums must first be paid in advance. It is unwise to go into this type of advertisement because it is almost always a scam.
Advance payment via Gandalf
The lender abroad can ask for money in advance. These ‘insurance premiums’ often have to be paid through Gandalf. Through this American company money can be transferred abroad without the intervention of a bank. The recipient can receive the money within a few minutes and receive it immediately upon presentation of a (false) identity card. A payment can not be reversed. Gandalf is therefore used for many scamming practices. Usually the lender is established outside of Europe. Also the email address of the ‘lender’ often comes from Gmail or Yahoo and there are many writing errors in the email. Borrow money abroad? No, you should not start on this.
Money lend Belgium possible?
As a Dutchman it is not easy to borrow money in Belgium. The Belgian bank will ask why money is borrowed in the neighboring country. The most likely reason is that the borrower has a Credit Score Agency listing in the Netherlands. In fact, you only have a chance if you have a residence in Belgium. A standard application for a loan by a resident from the Netherlands is not impossible but will usually be rejected. The supervisor of loans in Belgium is ‘De Centrale for loans to private individuals’ ( CKP ). Belgian banks are not allowed to consult the Credit Score Agency in the Netherlands and will therefore be extra careful to grant a resident from the Netherlands a loan. If you want to make an attempt, you must have fixed income from work, present recent wage slips and have a good story why you want to borrow from that Belgian bank (instead of in the Netherlands).
Do you have permanent work, sufficient spending capacity and no negative Credit Score Agency quotation? Then the cheapest choice is to take a revolving credit with an online bank. These internet banks are mostly subsidiaries of large banks at home and abroad. The online banks offer the lowest interest rates. If it is difficult to borrow from the ordinary bank, a mini loan can be an alternative. The Credit Score Agency is not tested for a mini-loan. The applicant must have permanent work.