Borrow money privately

Borrowing money privately is a form of borrowing that is not much different from borrowing money through the bank or another lender. The only difference is that there is no BKR assessment when borrowing money privately: and that has its advantages and disadvantages! Borrowing money happens every day: for renovations, purchase of a car, repayment of other debts, etc. Money can be borrowed from a bank at another institution at a certain interest rate. To obtain this loan, the bank or financial institution checks the borrower’s BKR. Everyone who has taken out or still has a loan is registered with the BKR. This registration lasts up to five years after the last loan was repaid. In this way, people can be prevented from borrowing too much money and thus getting into trouble.

Borrow money without BKR assessment

Because some people urgently need money but cannot get a loan because of their BKR registration, they look for the money through other means. This is called private borrowing: borrowing money from a private person. This could be a stranger, but also family or friends. Just like with a normal loan, interest is also added to this loan, and in the best cases a contract will be drawn up. This includes, among other things, the interest rate and term of the loan. If the borrower cannot make his monthly repayment, the private lender can, just like a financial institution, engage a bailiff. The condition is that a contract has been drawn up between the provider and the borrower, so that there is proof of the loan. Oral agreements also apply in law, but are more difficult to implement. It is then “your word against his”.


Borrowing money from a private individual usually works out well, but things can also turn out differently. Some private individuals use this method to launder their money or to make a lot of money quickly. They lend their money to several people. If this money is not repaid properly every month, conflicts can arise and violence can also be used. It will not be the first time that settlements have taken place due to overdue payments. Although these practices are rare, caution is advised.

Family or friends

Borrowing money from friends or family does happen: this often involves smaller amounts. For larger amounts, a contract will also have to be drawn up. Remember that if the loan can no longer be repaid, conflicts will arise, which can undermine the personal bond with family or friends. For this reason, it is often not advisable to borrow large amounts from family or friends.

Internet or newspaper

Calls can be placed via the internet or in the local newspaper. On certain sites, lenders and borrowers can easily find each other. Discuss carefully what the conditions are, how much money will be borrowed, the interest rate and term. And always draw up a contract. This provides more clarity and certainty for both the lender and the borrower.