Borrowing private money is a well-known concept in the financial world. As a person you often want to borrow money privately or borrow money from a private individual. Most people who want to borrow privately have a BKR listing which makes borrowing money a lot harder. Almost always official financial institutions refuse these people! Often incorrect due to small amounts such as your telephone bill or a late-paid dentist appointment. These little things can be a major obstacle when applying for a loan. The minimum time that a BKR coding is registered is 5 years. Borrowing private money therefore has an added value, this happens without BKR review so that your past is not visible to the person who borrows you money. For small loans up to 1000 dollars, this is not a very high risk and therefore the BKR assessment is omitted. Borrowing private money is also possible on the forum, after registration a free advertisement can be placed. Multiple private individuals place advertisements in the supply and demand section. This is for people looking for a loan as well as for individuals.
Who do you borrow money for privately?
Borrowing money from private individuals is also possible with people in your area. Think of friends, family, children or parents where you can borrow money. The advantage of this is that you often do not have to sign a contract that contains agreements made about the loan. Because a solution is being worked on together, it is usually okay for the loan to be paid back later, often even without interest! If you borrow a large amount from someone you know, it is wise to put something on paper. Not only for you but also for the counterparty. This gives the lender a better feeling about the loan even though you know each other (well). Private lending can therefore take many forms and often with acquaintances from your area without having thought about it.
Where to easily borrow money from private individuals?
Finding a lender is not that easy if you want to borrow privately! To get a private loan you need to know the right contacts or places where these lenders go. There are also places online where private loans are offered and requested. This supply and demand market places can be found all over the internet. On the website there is also a meeting place for people who want to borrow money from private individuals. After creating a profile on the forum you have the option to place a free ad. We are not responsible or liable for the deals made on the forum.
Tips about borrowing money from private individuals
While making a loan agreement, there are a number of things that you should pay attention to. It is wise to first calculate your income on an annual basis. Then the duration of the loan must be considered. If you want to pay off the private loan in 5 years, how much do you pay per month? Not everyone can miss 500 dollars per month in the long term. What if, for example, you start earning less, can you still pay the same amount per month? A permanent job and / or security is required to take out a private money loan. Borrowing private money can cost you dearly if you sign for (too) large amounts. So ask for feedback from your area or visit a financial adviser who knows more about this before you take out a loan.