Are You Looking For Finances Over The Internet? Loans Regret your loan? Not if you are properly advised

Regret your loan? Not if you are properly advised

People under 40 are easier to borrow in money or buy on installment than older generations. They regard a loan less often as a problem, but they also regret it more often afterward. How do you prevent financial problems with a loan?

The 18 to 39-year generation is more likely to take out loans than the generations above. Much more than their parents and grandparents, they are willing to borrow money for an education, a car, a bathroom, a mobile phone or a computer, but also for clothing, vacation and a day out. This is evident from a flash survey commissioned by the Ministry of Finance on consumer financial choices.

Young people less thoughtful

Young people less thoughtful

You may recognize it: of course, just like 80% of Dutch people, you would rather save for a certain edition. But yes, that money box is not very full and that car, renovation or training is very desirable or even necessary. Then borrowing isn’t a great solution? The younger generation believes that borrowing is not a problem as long as you can pay it off.

The elderly are more cautious in that regard. And rightly so, because easily thinking about borrowing money sometimes leads to wrong choices and to repentance. No fewer than 43% of the 20 to 40-year-olds say they regret the loan afterward. This is 24% for those over 40 and 11% for those over 60. How do you prevent you from regretting your loan?

Advice is needed

Before you borrow money, you need to know how risky that is and what the loan means for your finances and your spending. But how do you find out? Older people often fall back on financial advisors, while the younger generation more often turns to family and friends and look for information via the internet.

That is fine, but it is simply not enough. You need an expert advisor for serious advice. That’s why you never take out a loan with Good Credit without prior consultation. What do we discuss with you?

Is the loan appropriate?

When you apply for a loan from us, we first request information about your income, living situation and personal circumstances and we want to know what you will spend the money on. We then assess whether your financial position is good enough to meet the payment obligations and whether the loan amount matches your spending objective.

We base our assessment on the borrowing standards that have been drawn up by the Netherlands Finance Companies Association (VFN). We also check with the Registration Office whether you have any other loans and whether you might have had problems with them.

All ins and outs

If you qualify for the loan, we will call you personally for a consultation. We do not limit ourselves to saying yes or no to your application but discuss all the ins and outs of the loan with you. How high the interest rate is, how long the duration, what your total costs are and what you pay for it monthly.

Realize that you cannot spend that amount on other expenses. We also point out the tax aspects when you use the loan for your home. We will check for you whether the interest on your loan is deductible in your case.

A view of the future


Our advice goes further. You may be able to properly meet the payment obligations of your loan at the moment, but it is important that it remains that way throughout the entire term. That’s why we also look to the future with you because your income can fall for a variety of reasons. For example, you may become incapacitated for work or lose your job. Or even worse: one of you can die.

The loan can then suddenly put pressure on your available budget. You can cover that risk with a Good Credit protector. This is an insurance policy that temporarily pays (part of) the monthly costs of the Good Credit in the event of unemployment or disability.

In the event of death, Good Credit can be repaid in whole or in part. We will discuss with you whether such a Good Credit protector is a good idea. The insurance is not mandatory and you can always terminate the policy if you have finished paying off earlier or if you no longer find it necessary.

No extra costs

It is important to know that some intermediaries charge fees for mediation and advice when taking out a Good Credit protector. We certainly don’t do that at Good Credit. Our mediation and our consultation are also free of charge in this case. So you don’t pay for that.

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