Borrow money easily? The court recently banned the guarantee
Court prohibits guarantee
Borrow money easily? Until recently, the mini loan was the credit par excellence if you needed money quickly. It was also easy if your creditworthiness was sufficient. A BKR listing did not have to be a problem. You had to earn enough with a permanent job. Recently the mini-loan is no longer a solution. The court in Utrecht prohibited the guarantee (or guarantee) in a lawsuit that a lender had filed. With mini loans, the guarantee is the most important business model.
LoanViber loses court case
LoanViber from Estonia has been active on the Dutch market for some time. The company also thought it would earn a nice sum to provide mini loans with a guarantee. However, the vast majority of customers have no one who wants to guarantee them. They are therefore dependent on the guarantee from a third party. Of course for a substantial payment of 20-25% of the loan. Often the borrowers cannot pay back on time. LoanViber made the big mistake by going to the Dutch court to claim the credit immediately. The judge in question made short payments with the guarantee from LoanViber and ordered that the guarantee must also meet the maximum interest.
Mini loan is going to disappear?
This lawsuit probably has major consequences because now other borrowers from a mini-credit can go to court to have the guarantee banned. The main lender for mini loans is Ferratum. They will have seen the course with affairs. Their earnings model is now probably being curbed. The mini loan may well have had its day.
Borrow money easily
The best credit for easily borrowing money is a revolving credit. This is a loan that is always at your disposal when you need money. The bank determines the level of your revolving credit and the interest on the basis of your income. The cheapest revolving credit is usually found at an online bank. These are often subsidiary companies of large banks.