If you look at it easily it seems oh so easy; you need a small amount of money quickly, so you take out a mini loan. And when the need is greatest, it is also a solution that is “ok” and fast.
Why you take it out is actually not that important, repairing a leak, the last part of an overdue loan, the fridge that no longer cools or a washing machine that no longer washes, your old familiar car you have to go to work with has it leave …
A mini loan that can be taken out easily and online is then a solution that you can take in various directions and within 24 hours you will receive extra cash in your hands.
But … don’t underestimate a mini loan! Although it is (usually) a relatively small amount of money, the costs of not paying back or paying back too late can be very fast and high!
Don’t be lax with your mini loan!
A mini loan is in principle easy to set up and therefore easy to oversee, so simple and well-arranged.
You take out a loan to get some extra money quickly and due to the short duration of the mini loan you are quickly out of debt again.
In this way the interest payable also remains within limits.
Now you don’t have to worry about that, because since the AFM has placed the mini-loan under supervision, the usury rates have ended. In addition, the legally permitted annual interest amount calculated over the very short term does not result in world amounts.
But when a closed mini-loan on the day of expiration, that is, the last day of payment, is not paid and you have not repaid, very high costs can be charged.
Large sum of money
These charged costs run up to a large sum of money so fast that you as a loan contractor only get into further trouble and it becomes even harder to get out of debt.
The result is that a mini-loan of only a hundred euros due to the absence of payment becomes the so-called ball with chain on your leg.
If you want to stay out of trouble then it is essential to not be lax with this commitment and to ensure that you are paid back, preferably as quickly as possible and therefore also before the final final payment day.