Recovery of Debts in Germany

12-Aug-2012 | News-Press Release

Cologne, Nordrhein-Westfalen ( prsafe ) August 9, 2012 - Experience has shown that the payment moral decreases constantly. More and more frequently private persons and companies defer to liabilities to pay. Unfortunatelyan awful lot of them default their contractual liability and the creditors have to wait for the payment. It is obvious that bad payment behavior by customers can lead to company insolvency in some cases.

GRP Rainer Lawyers Tax Advisors, Cologne, Berlin, Bonn, Dusseldorf, Hamburg, Munich, Stuttgart, Frankfurt elaborate: We can provide support to private persons and companies to enforceoutstanding debts. After consultation with our clients we review the maturity, the possible objections of the debtors plus the risk of litigation. Before we undertake any action, we will assess the prospects for success in each case and develop together with our clients the right strategy to transform the outstanding debts into money.

The law firm GRP Rainer in Cologne, Bonn, Berlin, Düsseldorf, Frankfurt, Hamburg, Munich and Stuttgart also can determine the creditworthiness of new affiliates. Furthermore our lawyers will reveal appropriatestrategies to protect creditors against the risk of default in advance.

After gathering some basic documentation of the debt collection matter, we may contact a credit reference agency to determine if the debtor is still solvent and what their financial condition is at the time. For example, it may not be prudent for your company to file a lawsuit if the foreign debtor has filed for bankruptcy or could not afford costly litigation. In those instances, we take out of court actions to try to collect on the debt and in many times, are successful doing so.

Prior to filing a formal complaint in court, we will contact the German debtor on your behalf in an effort to notify them as to our representation in the matter, and to recover the debt.

If there was an "arbitration clause" in your contract with the debtor, we will likely initiate arbitration proceedings as an alternative dispute resolution method. If your contract did not include an arbitration clause but you would like to settle the matter outside of court, you may also want to pursue arbitration.

GRP Rainer LLP has already acquired wide experience concerning the debt recovery process in Germany. Our lawyers are fluent in both German and English and are experienced bilingual negotiators who are familiar with drafting legal documents in English. If your company needs to recover debts in Germany, contact us today to learn more about our German debt collection services.


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