Almost everyone has the situation that he or she needs some extra money. At such times it can be attractive to take out a loan, although you must of course realize that the loan will sooner or later have to be repaid. When you take out a loan without taking into account when you have to repay the loan, you apply for major problems in the longer term. This can be prevented by borrowing wisely, i.e. not requesting more than is strictly necessary and then what you can repay in the long term. But how much can you borrow and what do you do when your financial space is very limited?
If you urgently need money, but it is difficult to take out a loan, it is important that you - also to yourself - are honest about your situation. For example, someone with a negative BKR registration can often still knock on the door of family or friends in the first instance, but when it is subsequently difficult to pay back, the friendship or family relationship comes under heavy pressure. This is actually a situation that you should avoid at all times: you can only borrow money from family or friends if you conclude a good loan agreement and strictly adhere to it.
Municipal Credit Bank
For those who urgently need money but only have a small purse, there may be a better option: the municipal credit bank. People who cannot borrow anywhere else can go to the municipal credit bank, for example due to a negative BKR listing or because they have to make ends meet, for example on a WWB benefit. However, for this form of borrowing, the loan must be strictly necessary: no loans are therefore provided to pay for a holiday or wedding . However, in an emergency, for example when your roof leaks or the washing machine has broken down, you often have a good chance for a 'social loan', as a loan from the municipal credit bank is also called.
To be eligible for a loan through the municipal credit bank, it is necessary that your income does not exceed 130% of the legal minimum wage. This does not include holiday pay. With a higher income, you can only qualify if there are special circumstances, such as problematic debts or because you are not yet allowed to take out credit because of your age.