Friday, 27 November, 2020

Borrowing with benefit | Borrow money while you receive benefits

Can you borrow money with a benefit?

Do you want to borrow with a benefit? We probably don’t have to tell you that borrowing money with a benefit is not so wise, but sometimes the situation is no different. If you receive a benefit, you will more often suffer from a balance dip so that some extra financial room can give you more air. Many people think that you cannot borrow with a benefit, but nowadays it is possible to borrow with a benefit. Borrowing with a benefit is also called “borrowing without a pay slip”. It is even possible to borrow money with a social assistance benefit.

Borrow with benefit

Borrow with benefit

If you have to live on benefits, then you will often not have extra money for unforeseen expenses. So if the washing machine stops or the car has to go to the garage then you often have no money to cover these costs. Applying for a loan is a pleasant solution despite the payment. You must realize that in the following period you must tighten the belt more tightly. In addition to the normal costs that are often difficult to pay with benefits, you will also have to repay the loan. But you can therefore borrow with an AOW benefit, a Wajong benefit, a social assistance benefit or a WW benefit.

Borrow money urgently

In most cases, if you want to borrow with a benefit, you will want to have the money in your account as quickly as possible. This is possible if you would apply for a mini loan.
You will receive the money in your account the same day if you applied for the loan. If you have often applied for a mini-loan, you will have the money in your account within 10 minutes.

The mini-loan is also the only form of loan that you can use to borrow money with a benefit. The reason is that the amounts that you can borrow with a mini loan are a maximum of 1000 euros. You can borrow amounts from 100 euros to 1000 euros. It depends on the amount of the duration of this loan. The term for a small loan is 15 days, with a medium-sized mini loan the term will be 30 days and for the higher amounts a term of 45 days applies.

Borrow with benefit without BKR

Whether borrowing with a benefit is not enough, you can also borrow without a BKR assessment. As we always say, you have to carefully check whether it is wise for you to borrow without BKR and with a benefit. If you know that you can repay the borrowed money as soon as you receive your benefit without getting into trouble, then it should not be a problem for you. So if you have ever committed a financial mistake and therefore have a negative BKR code behind your name, you can still borrow money despite this.

Avoid borrowing with benefits

Avoid borrowing with benefits

It is best not to borrow money with benefits. But we also know that it is not always easy. It would be better if you could put some money aside every month, so you avoid having to apply for a loan if you are financially short.

As you know, borrowing always costs money, pay extra attention if you are going to borrow with a benefit.

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