The Collection on Debts in Germany

05-Aug-2012 | News-Press Release

Cologne, Nordrhein-Westfalen ( prsafe ) August 2, 2012 - Even for busy companies, bad payment behavior by customers may soon turn into a major problem. Insolvency statistics reveal that default customers are often a factor behind company insolvency. Only effective debt management can help protect against this. The lawyers at the office of the GRP Rainer law firm in Cologne, Bonn, Berlin, Dusseldorf, Frankfurt, Hamburg, Munich and Stuttgart can provide support to companies when it comes to collecting debts.

To avoid bad debt losses, our lawyers will develop appropriate debt collection procedures for your company. We will monitor outstanding receivables and ensure fast payment. We explore all the legal possibilities for debt collection. Whether it is a case of requests for payment, default actions or legal proceedings - the lawyers of the GRP Rainer law firm will consistently pursue collection. Before we undertake any action, we will assess the prospects for success in each case and recommend the best strategy.

GRP Rainer Lawyers Tax Advisors, Cologne, Berlin, Bonn, Dusseldorf, Hamburg, Munich, Stuttgart, Frankfurt elaborate: Effective debt collection starts with the invoice. For this reason, we carefully check the invoice forms at the GRP Rainer law firm. One example: if there is no binding period specified for payment, your customer does not enter into default in the event of non-payment. This wastes time in terms of debt collection. The first objective of our legal advice is therefore to have the GRP law firm prepare your company invoices so that they meet the debt collection requirements.

Trust is good, control is better. This is especially true when making the first delivery to a new customer. The law firm GRP Rainer in Cologne, Bonn, Berlin, Düsseldorf, Frankfurt, Hamburg, Munich and Stuttgart can support your company by assessing customer creditworthiness. Our lawyers will also discuss strategies to protect you against the risk of default.

Specify the terms of payment on the customer invoice. Anyone who does not observe the time limit for payment will be in default. We advise outsourcing the reminder and all further steps to a lawyer. The advantage: You can make it immediately clear to defaulting customers that it is a serious matter. In most cases, the first reminder on headed paper from our law firm will bring defaulting customers to their senses. Anyone who still does not grasp the seriousness of the situation, must reckon with the next level: a legal order to pay.

The court payment order is used as a simplified method to enforce outstanding debts. The GRP law firm with offices in Cologne, Bonn, Berlin, Dusseldorf, Frankfurt, Hamburg, Munich and Stuttgart can take care of all the necessary steps for your company. This includes our lawyers using the order for payment to apply for a default summons. The debtor then has two options: either he pays or lodges an objection. If, however, he does not respond, your lawyer can apply for an enforcement order. We will naturally keep an eye on deadlines. At the same time, the GRP lawyers will identify the debtor's attachable net assets and accounts

Debtors have two weeks to appeal against an enforcement order. After this period, the enforcement order becomes valid. What this actually means is that a GRP lawyer can initiate an enforcement claim against the debtor on your behalf. Legal proceedings: the litigation collection proceedings do not always achieve their effect without the debtor making an objection to the order for payment. If this happens, the order for payment proceedings are terminated. Now you need to decide whether you wish to proceed to the next step. Our lawyers can provide reliable advice on the best case strategy and your chances of success. The offices of the GRP law firm in Cologne, Bonn, Berlin, Dusseldorf, Frankfurt, Hamburg, Munich and Stuttgart will also make every effort to successfully pursue your claim in court.

Debt collection costs money. Apart from the loss of interest, the costs of collection mount up. In addition to overdue notices/reminders, these also include, for example, charges relating to the order for payment. Here, outsourcing to a law firm such as GRP Rainer, with offices in Cologne, Bonn, Berlin, Dusseldorf, Frankfurt, Hamburg, Munich and Stuttgart, offers several advantages: As your lawyers, we charge the costs of the collection to the defaulting customers, who incurred them.


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