In both the private customer and B2B (business-to-business) sectors, outstanding payments from creditors can lead to insolvencies. The credit insurance group Allianz-Trade surveyed around 2,500 companies on their export prospects for 2022: 93% of respondents consider potential payment defaults a risk. 58% expect more payment defaults to occur. High sales alone do not automatically lead to a stable liquidity situation. In practice, it often happens that customers initially fail to pay an invoice and thus fall into arrears. Such payment defaults can spell financial ruin for many companies. It is necessary to generate sales and maintain liquidity to avoid a liquidity bottleneck and insolvency despite high sales. By collecting outstanding payment claims with the help of a lawyer, companies can collect their outstanding monetary claims quickly and efficiently.
The legal area Debt management and enforcement law deals with the out-of-court or judicial enforcement of (monetary) claims. However, it is not an independently regulated area of law, as most of the regulations are found in the German Civil Code (BGB). Further provisions relating to debt collection and debt collection law are contained, among others, in the Code of Civil Procedure (ZPO), the Act on Compulsory Auctions and Compulsory Administration (ZVG), and the Legal Advice Act (RBerG).
If your debtors are not willing to pay their outstanding invoices despite repeated requests, you should consider hiring a lawyer for the Debt management and enforcement law to contact.
Receivables management encompasses several important aspects. These include monitoring, analyzing, and optimizing receivables, as well as establishing payment terms and agreements. Debt collection procedures play a crucial role in this process. In debt collection proceedings, the creditor commissions a debt collection agency to collect outstanding debts from the debtor. If a customer fails to meet their payment obligations, the company can initiate debt collection proceedings against them.
Debt collection is a targeted measure designed to encourage delinquent debtors to pay their debts and minimize the risk of bad debts. Engaging an experienced debt collection agency ensures the professional conduct of the process. The debt collection agency has specialized expertise and the legal means to force the debtor to pay.
By carefully monitoring the debt collection process and implementing appropriate strategies and measures, positive results can be achieved. The goal is to collect outstanding debts promptly and efficiently to ensure the creditor's financial stability. Debt collection is therefore an effective tool within the framework of holistic debt management. It can be conducted both out of court and in court, depending on the individual situation and the creditor's needs.
Are you looking for a reliable and efficient solution to collect your debts? Then contact an experienced attorney specializing in debt collection and enforcement law now! I can support you and your company in this important process.
Have you already exhausted all options for collecting your debt? Our law firm can help you enforce your claims. Unlike potentially dubious debt collection agencies, a lawyer offers you competent and specialized legal advice. Thanks to my many years of practical experience, I am well-versed in the challenges of debt collection and can offer you professional support. My track record speaks for itself: I have achieved timely repayment of debts on numerous occasions and develop a comprehensive strategy to ensure a high chance of success. My preferred solution is an out-of-court settlement. This allows me to save you time, money, and stress through customized agreements such as installment payments or deferrals. However, if necessary, I am also prepared to enforce your rights in court. My area of activity extends throughout Germany and Europe, so I am able to collect your debts nationwide and throughout Europe.
I offer you various services:
Debt collection refers to the enforcement of a due and legally enforceable claim. In practice, this can be done, for example, through direct debit. Debt collection can be carried out both out of court and in court.
Debt collection agencies often have a dubious reputation. However, they must be registered under the Legal Services Act (RDG) and may only collect undisputed debts in order to be able to act. Additionally, fees must be paid to the collection agency if the claim is successful.
The term "disputed claim" refers to a claim to which a defense is raised. If there is no contract or legal obligation, you have the right to dispute the claim. If a claim is disputed, the creditor retains the right to sue in court for payment of the claim and, if necessary, to initiate enforcement proceedings.
If a creditor has already taken all necessary steps to collect their debts from the debtor, it may be necessary to consult a lawyer. Such a lawyer specializes in debt management and enforcement law and will handle the efficient and timely collection of debts to ensure that creditors receive their due. In addition, a lawyer can also take on other tasks. This includes, for example, both judicial and out-of-court debt collection on behalf of the company.
Generally, the first attempt is to initiate an out-of-court collection procedure. This involves first presenting the debtor with a demand for payment. If the debtor fails to comply with this demand, court proceedings are initiated, and a payment order is served on the debtor. If the debtor fails to respond even after receiving the payment order, an enforcement order is issued.
Debt collection isn't always cost-effective. This is especially true if the customer is insolvent. However, there are chances of success if the court dunning process has already been successfully completed. A statute of limitations of 30 years generally applies to enforceable claims.
Businesses are legally obligated to first send a payment reminder. This usually also includes a deadline for payment of the invoice. If payment is not received, a dunning letter can be sent. If customers fail to pay, they have the option of hiring a lawyer.
Hiring a debt collection agency will incur higher costs, as the debtor only bears the entire cost if the debt collection is successful. Furthermore, even if the debt collection is successful, a partial payment must be made to the agency. The cost of the legal proceedings depends on the amount of the claim.
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