Today people are increasingly faced with payment problems.
This has for a not insignificant part to do with the fact that the financial pressure from daily life is increasing systematically. The fixed costs are getting higher, we all want more comfort and the job offer is no longer what it once was. It is therefore not at all unthinkable that at a certain moment you will no longer be able to repay your completed loan (s) in accordance with the applicable conditions. That is not a problem right away, but when it continues to last for three months. From that moment on you end up on the black list. What consequences this has and in which ways you can still borrow money then we would like to tell you in this interesting blog article!
What exactly is the Black List?
People who have always been able to meet their payment obligation (s) without too many problems will probably first ask themselves what this dreaded black list is exactly. This is a list that everyone can find on the website that has not paid off his or her credit for 3 months. Even when you are in debt mediation, you automatically receive an entry on this dreaded list. Keeping up the black list is in contrast to what many people do not think by one but by several parties. Think about:
- The National Bank of Belgium;
- The Professional Association of the Credit;
The latter association is a professional organization to which all lenders are affiliated. In this way they have the opportunity to exchange crucial information with each other. In principle, the black list serves as a central point of contact for all regular financial institutions and banks that intend to grant a credit to a specific person.
Prevention of listing on Black list
It is always in your own interest to avoid being listed on the black list. For this reason, it is always good to be attentive to the warnings you get from your bank regarding a possible listing. The moment you receive a notification and you immediately take action regarding the repayment of your debt you will be able to determine that there is no man on board. You will not be included on the black list and the correspondence that has happened will end up in the trash. Moreover, you have to take into account that a listing on the blacklist can only take place at the moment that the outstanding debt is equal to or greater than 25 euros.
Have you not been able to meet your payment arrears within the set term? Then of course it becomes a completely different story. At that moment you will inevitably be added to the black list after which you can no longer take out a new loan (s). Even if you immediately pay off your debt, you will remain on the black list for one year. This is not so much to make life difficult, but to ensure that you first build up enough financial reserves before starting a new financing. Pay attention! Was the outstanding debt too large and did it take too long before it could be rectified? In the worst case, you can stay on the blacklist for up to 10 years!
Target black list
At first glance, the blacklist seems to be an invention with the aim of making it as difficult as possible for potential borrowers. That is not entirely true. Basically, the black list has been created for the following reasons:
1. To protect the potential borrower. A listing on the black list prevents financial commitments being entered into that can almost certainly not be complied with.
2. To protect the lender. It is of course important for this party that there is as optimal a security as possible with regard to the repayment capacity. Otherwise, the financial stability of the bank or other financial institution may be jeopardized.
Check whether you are blacklisted or not?
Most of the people listed on the black list will know this by themselves. Are you in doubt, for example because of the fact that you have now perfectly repaid a previous payment arrears? In that case, you can address the CKP (Central for Credits to Private Individuals). By contacting this party it is possible to get an immediate insight into your current situation. Please note, contact is only possible in a way that your identity can be identified. So do not call, but send a letter or go personally. The latter option is usually the most efficient.
3 Opportunities to borrow money despite listing
Do not get us wrong, the moment someone is included on the black list, it is generally entirely right that this person is financially protected against himself. However, a listing on the black list does not always have to be black and white. It is always possible that someone at a certain moment against a financial setback with all the consequences. This therefore does not mean that the entire financial situation of this person has sustained a permanent injury. However, the problem can persist for a sufficiently long time to justify an entry on the blacklist. Do you still want to take out a loan in this case, for example because you have to pay a few major costs? But is it still waiting for the new payment of your wages? In that case, the three options below may help you further!
1.) Borrow a small amount with a mini loan
One credit is not the other. This becomes immediately clear when we compare the various types of credit that are found on the market. Take for example a miniature loan . Such financing can already be concluded for a small amount of, for example, a few hundred euros. This seems to be a superfluous form of credit, but it is not. People who are temporarily confronted with a financial dip and therefore need some extra financial breathing space can be perfectly helped in this way. Moreover, for credits that are tested against the blacklist, the credit amount must be at least 1,000 euros. At the moment that you have sufficient credit, it is therefore often possible to request it, even with a listing on the blacklist.
Mini-loans can be very interesting for every potential borrower and also in many different situations. They are also awarded without prior thorough credit research and you also receive the money with a little luck within 24 to 48 hours after applying to your bank account. However, you have to take into account that the credit amount is limited (usually less than 1,000 euros) and you have to repay the borrowed amount within a short period of 30 days on average. Do you take this into account and pay the debt back in time? Then you will be able to establish that mini-exercises can help you even more at crucial moments.
2.) Borrow from friends or family with the private loan
Borrowing money from a bank or a regular financial institution when you are on the black list is usually not possible. However, there are also other parties where you can apply for a loan. What about, for example, friends or relatives? The so-called private loan is a form of credit that makes it possible to borrow money outside the traditional financial system. That is of course interesting, but in this case too, the repayment capacity has to be taken into account. The last thing you want is that you get into trouble with your best friends or relatives because you can not repay the received credit amount.
When taking out a private loan, it is often opted to agree everything verbally. This may seem normal at first sight, because both parties know each other very well, but in practice that is absolutely not interesting. Always ensure that the agreements made are neatly placed in a private loan agreement. Only in this way is it possible to immediately suppress any discussions. If at any time it goes wrong and there is a lawsuit, then the written private contract serves as conclusive evidence for the agreements made.
3.) Borrowing money from an alternative financial institution
Contrary to what is often thought, it is not the case that every financial institution conducts a review with the black list … or rather, not every company takes the same weight. The moment you really need money, for example to buy food and drink or pay other urgent costs, you can always choose to divert to an alternative lender. Such parties have a perfectly legal character, but are typical companies whose main aim is to make a profit. Here the first shoe immediately squeezes. Compared to, for example, a personal loan with a traditional bank, borrowing from an alternative lender is always a lot more expensive.
The higher cost price that applies to loans from an alternative lender is of course realized by the fact that they are aware that you may be on the black list. This immediately means that the lender runs a not insignificant risk by still lending you money. He would like to see this risk covered so that a significantly higher price tag is charged. Be absolutely certain that you can repay such a loan according to the predetermined conditions. Is not that the case? Then you will just have to take into account extra (high) fines that you are charged. Are you sure that you can simply repay the loan and do you need money urgently? Then borrowing money from an alternative lender may offer you an interesting solution.
Believe it or not, it happens regularly in practice that people are unjustly included on the blacklist. That is of course very annoying, but fortunately you can take immediate action here. The moment you are unjustly included on the black list you can start to dispute this. You do this by contacting the lender in question and submitting proof that the statement is incorrect. Does your lender not listen to this? In that case, you can still choose to file a complaint with the Banks – Credit – Investment mediation service of the FPS Economy. You should be 100% sure in this case that your dispute is correct, but that goes without saying.
Borrow money despite listing on blacklist, interesting or not?
The information that can be found in this blog article has made clear that there are indeed different possibilities for people who have a blacklist listing to borrow money. However, the fact that these possibilities exist does not mean that they are also interesting. In practice, it is always financially much more interesting to be able to take out a normal car loan , personal loan or renovation loan with a traditional bank. In this way you can not only count on the lowest possible costs, you are also offered the best possible guarantees. In any case, it is always a requirement to ask yourself whether it is appropriate or not to take out a new loan. The fact that you are blacklisted is probably the result of a fairly long-term default and there must be a certain cause.
Because of the above, it is always advisable in practice to ensure that you first get off the blacklist before returning to a certain financial obligation. So make sure that your outstanding debts are paid off and use the remaining period (as indicated, a blacklist will usually remain for up to 12 months) to build up a little reserve. It does not make much sense to put a financial sling on your neck immediately after solving your blacklist status. The chance that you will encounter problems in no time at all is in fact very significant.