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Debt collector: Who can collect money in Germany

The most important thing about the debt collector

What is a Debt Collector?

Debt collector is someone who asserts a creditor's outstanding claim on their behalf. He can also buy the claim and then collect it in his own name.

What kind of debt collectors are there?

There are publicly appointed and private debt collectors: Debt collectors are independent bailiffs on the one hand and debt collection agencies commissioned by creditors on the other.

When to hire a debt collector

Anyone who has debts and cannot settle them must expect that creditor business or private requirements collect. A debtor does not respond to Requests for payment and extrajudicial reminders, creditors have various options for collecting the money. For example, a Debt collection agencies be commissioned or their claims by means of a foreclosure push through.

A foreclosure but cannot be carried out without further ado. Must before creditor namely go through a dunning procedure. The debtor then receives a court order for payment. This gives the indebted person the opportunity to repay the debt within two weeks to settle. Alternatively, the person concerned can also Objection to the payment order insert if the latter does not agree to the monetary claim.

Does the debtor ignore that Payment order, the believer can have one enforcement order apply for. This enables him to have his claims collected by foreclosure. In this case, the debtor receives one Enforcement order. If he does not respond to this notification, a will be bailiff commissioned to take care of the collection of accounts receivable.

Another debt collector comes into play much earlier. A Debt collection agencies can be commissioned even if a debtor does not pay bills and does not pay Payment reminders responded on the part of the creditor. Both debt collectors should be presented in more detail below.

Debt collection agencies as debt collectors

Debt collection agencies have made it their business foreign pecuniary claims to collect. You will be from Creditors instructed when they want to collect debts. If a debtor does not pay his bills over a longer period of time, it may be that the debtor receives a letter from a debtor after a certain period of time Debt collection agencies receives.

When can a debt collection agency be hired?

A Debt collection agencies can be hired as a debt collector if a open claim exists, this entitled is and the debtor is in Late payment is advised. A person is in default of payment if the debtor Reminders has received a immediate payment has been agreed and this has not been made or if for the payment a particular Deadline was valid, which has now passed.

How does a debt collection agency go about collecting debts?

Collection agencies are service provider, as Debt collector act. You can collect debts in a number of ways:

  • The The creditor instructs the debt collection agency with the collection of debts. The debt collection company then acts on behalf of the obligee.
  • The believer can Sell ‚Äč‚Äčoutstanding accounts receivable to the debt collection company. In this case, the claim to the money is transferred to the debt collection company.

The Debt collection agencies, will try in different steps that requirements enforce and so the Debt collect. It doesn't matter if it is this in my own name does or on behalf of the obligee acts.

In a first step, a debt collection company will deal with the debtor extrajudicial reminders ask for payment. Doesn't that make the indebted person who Debt In this case, the debt collection company proceeds in exactly the same way as someone acting alone creditor also:

  • It will be a legal dunning go through, whereby a Payment order is obtained.
  • The debt collection agency can then issue a enforcement order apply for. With a Enforcement order can then a foreclosure be performed.

When can a debt collection agency fail as a debt collector?

By a foreclosure the debt collection company can then collect money that has not yet been paid, but the creditor or the Collection agency is due. However, this may not lead to success if the debtor for example insolventis, in other words, if he just has no more money, that seized can be.

Is a Debtor bankrupt, a foreclosure usually leads nowhere. This is especially the case when his capital or be income below the Attachment limit lies. Debt collectors can in this case Monitoring procedures initiate in which the financial position the indebted is kept in mind.

The debt collector also has no prospect of that Satisfaction of demandswhen the indebted person deniesthat open claims exist with a believer who Debt so does not recognize. It can also happen that a debtor does not dispute the debt per se, but it does Amount of the outstanding amount doubts.

In this case, it usually comes to one Litigation. Here has Debt collection agencies the ability to submit outstanding debts dish to assert. The judgment serves the debt collection agency as enforcement order, with which it can then also enforce enforcement measures.

The bailiff as an impartial debt collector

Does it come to a debt as a result of debt foreclosure, become bailiff used to perform this. The prerequisite for this is the presence of a Enforcement Order or one Enforcement notice.

A bailiff is responsible for that Decision of the court enforce. That is, his mission is to do the Debt in the name of Court to collect. To his tasks is it for example:

    • accept an asset report
    • Installment payments to be agreed and received
    • Objects too seize and to auctionreluctance
    • Enforce eviction actions

After the debtor on a Enforcement order has not responded, you can bailiff instruct and submit an application foreclosure put.

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Debt collector: Who can collect money in Germany
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