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BKR: Payment arrears decreased further

March 13, 2017

The figures from the BKR credit barometer, which measure trends and developments in the payment behavior of the Dutch borrower, show that the decrease in payment arrears among consumers that started last year has continued. The last six months even saw a decrease of 5%.

Payment arrears decreased

After years of increases in the numbers of payment arrears, the BKR was already able to report a decrease in January last year. Now it appears that the number of Dutch people with payment arrears has decreased further. That is positive news in the reduction of irresponsible loans, resulting in payment problems. Thanks to the improving economy and labor market, consumers have more money to spend. This has meant that payment arrears could be settled and the number of people who cannot meet their payment obligations has decreased. The result is a decrease in payment arrears.

It is expected that people will borrow more now that the economic crisis is over. Because people had a harder time financially , they were less likely to take out a loan. The number of people with payment arrears stagnated partly because of this.

BKR wants to stop irresponsible loans

A BKR registration has a negative connotation for many consumers, while it is precisely intended to protect them from taking out irresponsibly high loans. Lenders check your details with the BKR when you apply for a loan. If there is a negative registration there, the chance of a loan is very small. A negative BKR registration is held for five years behind your name and has major consequences for your mortgage application; you will not receive a mortgage with a negative BKR registration. Certainly now that credits from € 250 are also registered, you must do everything you can to prevent payment arrears and thus a negative registration.

Consumer awareness

Thanks to the information about responsible money lending that the BKR gives to consumers, awareness arises that leads to consumers not taking out loans or credits that they cannot afford financially. The BKR advocates that lenders provide responsible loans to consumers that match their financial strength. Thanks to the registrations, this is getting better and better.

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