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Bad Debts

A claim can arise through a legal transaction or by law and is a creditor’s entitlement against the debtor for a performance. In principle, the claim is extinguished by fulfillment or other legal fulfillment events. The correct first step would be to initiate a debt collection procedure or file a lawsuit. Prerequisite: you can prove that the claim is justified. Because nobody likes to give up money.

As part of the current survey by ING-DiBa Direktbank Austria, people in 13 European countries were asked about their personal debts. According to the data, an average of 49% are free of personal debt. In Austria, the figure is as high as 57%. The average amount of debt is 15,600 euros. However, the average for the countries surveyed is only 8,000 euros. According to the Germans themselves, the average level of debt is 10,300 euros.

Private debt has risen by almost 70 percent in 10 years. The reasons vary – job loss, high expenditure on cell phones (among young people) and cars, remaining debts after a divorce, poor business deals, difficult political conditions, wrong decisions, etc.

We deal with individual claims and portfolios of claims from the commercial and private sectors. The German Civil Code (§ 286) stipulates that debtors are in default without a reminder within a reasonable period following receipt of the invoice. The chances of successful collection are assessed in a quick, individual, and non-binding examination. The further course of action is then determined together with the creditor.

If the probability of recovery is above average, we take over the entire process until successful realization.

• Do you have stubborn debtors and don’t know what to do?
• Has your debtor concealed their assets, “officially declared themselves assetless”, but continues to live their lifestyle?
• Your debtor can no longer be found/has gone abroad?
• Do you need information about the debtor?

For these purposes we work closely with experts from a wide range of fields – discreetly, creatively and with absolute loyalty to the client.

Do you have doubts that we are the right fit for you? Our fees are structured more favorably compared to general fees, as we collaborate in conjunction with other specialists, thus making us more impactful and efficient. Additionally, you can reach us around the clock.