Can I take out a loan with BCR coding?On September 16, 2019 by admin
If you take out a loan, this is registered with the Credit Registration Office, also known as BCR. This happens when you take out a loan in the form of a personal credit, but nowadays you also get a BCR registration when taking out a mobile subscription or a lease car. You will then receive a BCR coding after your name. The answer to your question: “Can I take out a loan with BCR coding?” Is yes.
What you actually mean is whether you can take out a loan with negative BCR coding. Because if you have payment arrears, this will be passed on to the BCR by your lender. You then have a so-called negative BCR code, which other lenders can also see.
Close loan with BCR coding
As soon as you apply for a consumer credit or loan from a lender in the Netherlands, this organization will check with the BCR whether you have a BCR registration. So they look at whether you already have a loan somewhere and whether you are paying all interest and repayment. This verification of your registration or BCR coding is an important step in the acceptance process of your personal loan. But: can you still take out a loan? So this depends on which coding you have. If you have a negative BCR coding, it becomes more difficult to take out a new loan. What is often possible is to take out your loan at more favorable conditions and lower costs. For this you must go to your current lender.
Close loan with negative BCR coding
If, due to circumstances, you have incurred a negative BCR code and you want to borrow money because you are short of cash, then that is actually only possible with providers who have their own assessment system. It is often a small amount that they want to borrow. You can go to Bankate under certain conditions and take out a loan with BCR coding. Another provider is cross-lend.
Do you want more information?
Do you want to know more about the BCR and the registration process? On our website you will find a lot of background information about loans.
Have you chosen a provider? Then you can also read more information about all lenders. Look in the menu at Compare Personal loans and choose the lender you want to read more about here.
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