How do you know if you have a negative BKR registration?

A negative BKR registration can get in the way of your dreams for the future. But, how do you actually know if you have a BKR registration on your name? No worries! In this blog we will show you how you can find out very easily.

We will do this by asking two questions:

How do I know if I have a BKR registration?
How do I know if I have a negative BKR registration?

At first glance, these seem more or less the same question, but in practice they can have very different consequences. How? We discuss that, too, below.

But let's start at the beginning. Why is it actually so important to know if you have a (negative) BKR registration?

How does removing a BKR registration work?

Requesting an intake interview

Why it is important to know if you have a negative BKR registration

Are you planning to take out a mortgage, lease or other type of (business) loan? If so, understanding your financial situation is of course very important.

One term that often comes up in this regard is BKR registration. That is a loan or debt registered with the BKR (Bureau of Credit Registration) in your name, including its payment history.

The BKR keeps records of this so banks (and other lenders) have insight into a person's credit history.

In other words, have you fallen behind on a debt or loan in the past? Then a future lender can see this in your BKR registration and will be less inclined to grant you a (new) loan.

Understanding any BKR registrations in your name is therefore important to avoid unpleasant surprises when applying for a loan or mortgage, business or otherwise.

But how do you know if you have a BKR registration? And what consequences might that have in your case?

How do I know if I have a BKR registration?

A BKR record therefore indicates a loan or debt registered with the BKR Foundation. This record remains on file for up to five years after the debt has been repaid.

Therefore, the easiest way to know if you have a BKR registration is to find out if you have had a loan or debt in the past 5 years.

You have a BKR registration when you:

Take out a personal loan or credit of more than €250
Making purchases with a credit card
Being in the red on your bank account
Entering into a private lease
Entering into a phone subscription with a phone over €250.

We also speak of a positive BKR registration in these cases. Positive in this case means: you have (had) a loan, but you have always paid the repayments on time.

Study debt does not lead to registration with the BKR. Yet it is asked for when providing a mortgage. After all, repaying this debt creates a monthly payment obligation, which has a (negative) impact on the amount you can repay monthly on the mortgage. (The same, by the way, can apply to payment obligations that are registered, such as a private lease).

A current mortgage is also not registered. However, if you fall behind on your mortgage payments, this can change. We then speak of a negative BKR registration.

How do I know if I have a negative BKR registration?

When you default on payment obligations on a current debt or loan (for an extended period of time), its positive registration is converted into a negative BKR registration.

As mentioned, the same applies to a mortgage debt on which you are in arrears.

What does such a negative BKR registration look like?

Actually quite simple. This is a BKR registration where you have fallen behind on payments. In other words, you have not met the payment obligations for your loan or debt.

For loan and credit providers, such a negative BKR registration is visible when they check your creditworthiness. They are often reluctant to extend (new) credit to someone with a negative BKR registration, since they already have (had) problems repaying a previous loan or debt.

You may have a negative BKR registration due to:

Being in the red on a bank account and not replenishing it in a timely manner
Credit card payments not repaid on time
Failure to meet a deferred payment
Missing more than three payment terms on a mortgage
Failure to pay the monthly amount on time with a private lease or a subscription including cell phone
Failure to make timely repayments on a personal loan or revolving credit

Unfortunately, BKR registrations - even after paying off the loan or debt - remain on average for about five years.

This means that you may still be inhibited in your present life for a long time by the effects of a period that is now behind you.

Of course, your situation may have changed completely in those five years, leaving you in a (much) healthier financial position than when you incurred that negative BKR registration.

Don't want to let past payment delays get in the way of your dreams in the present? Then it may be worth exploring whether BKR registration removal is an option in your case.

Now I know if I have a BKR registration, but how do I get rid of it?

As you have read, a positive BKR registration can primarily affect the amount of a mortgage or loan due to the monthly payment obligation behind the registration.

Therefore, once the loan or debt is paid off - and you no longer have a payment obligation - the registration will not affect the amount or terms of any new loan.

With a negative BKR registration, the situation is different. As already mentioned, a BKR registration remains even after you have paid off the loan or debt in question for about 5 years. In the case of a negative registration, that includes arrears and/or missed payments.

For lenders, this can be a reason not to grant you credit even now, or a significantly lower one. Very annoying, especially when the reason for the negative BKR registration is now far behind you, you are financially healthy and ready for the next step in your life.

In such cases, we may be able to help you remove your BKR listing. Request our free initial consultation today to find out as soon as possible what options are available to you for having that troublesome BKR listing removed. That way, you can get back to living your life.