Money matters and debt

It’s easy to get into difficulties due to debt. You can buy almost anything by instalment and it isn’t hard to get a personal loan. If you decide not to pay directly or to take out a loan, you will accumulate debt. The debt increases because you have to pay interest on the money loaned. And if you don’t pay on time, fines and bailiff costs may be added to your debt. The amount you borrowed keeps getting bigger and bigger.

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The question is, how can you eliminate your debts?

  • Avoid getting into debt in the first place!
  • Make a list of your financial problems: what did you borrow, from whom and how much do you owe now?
  • Make a list of priorities so you know when you have to pay what amount to whom. 
  • Try and arrange a repayment schedule with your creditors; make agreements on when and what you will pay.
  • If you can’t solve the problem yourself, you can seek help from debt counselling agencies such as the Gemeentelijke Kredietbank (Municipal Credit Bank), the Gemeentelijke Sociale Dienst (Municipal Social Services) and, in some cities the Information Center for Sex Work. They can help advise you on how to pay off your debts.

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A bank account

To keep your money safe, but also to be able to pay your bills, you need a bank account. It may be the case that you have already tried to open an account, but you were rejected. Did you know that you still might have the right to your own bank account?

When you
- are 18 years or older
- have a permanent residence in the Netherlands or a postal address with an official organisation for relief (governmental or other)
- and can show a legal permit

you can always open a bank account.
With a basic bank account you can transfer money, use an ATM, authorize your bank to pay bills (gas, light), etc.
For more information on the subject, click here (website in Dutch)

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More information

For more information on eliminating your debts, you can go to the website www.zelfjeschuldenregelen.nl (in Dutch) of the Nationaal Instituut voor Budgetvoorlichting (National Institute for Budget Information) (NIBUD).

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