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Corporate insolvencies and also private insolvencies will rise in 2024

According to a current forecast from October 2021, corporate insolvencies will increase by 15 percent in 2022, and by 9 percent in Germany!

In 2021, global insolvencies were still declining at - 6 percent, in Germany it was - 5 percent (= 15,000 cases). But: The expected average loss amount of insolvent German companies more than doubled in the first half of the year compared to the same period last year.

Private insolvencies in Germany increased significantly in the first half of 2021. In the first six months of the year, there were 57,992 private insolvencies, 49.9 per cent more than in the same period last year (H1 2020: 38,695). These are the key findings from the "Debt Barometer 1st Half Year 2021" of the information service provider CRIF Bürgel.

FAQ's

Are there any recommendations for successful court proceedings?

It is very important to be able to support the court with written documentation and evidence like written order, confirmation of order, memos of telephone calls and meetings (meeting protocols) a.s.o. For that fully documentation of a business relation is to recommend, especially at the moment difficulties and misunderstandings occurs in business relation.

Furthermore it is important to present to the court all facts of the case in detail. It is not sufficient to argue at the court that a contract was concluded "sometime". Both parties are obliged to present specific details like: "On the 12th of november 2005 the witness Mr. John Doe, caribbean shade 123, Downing Road 24, 12345 London UK, has spoken to Mr. ... about the contract concerning ... " The court always asks: "Who, when, what, in which way".
In Germany documents are generally more important in court proceedings than any possible witness of an individual.

What is meant by out-of-court-proceedings in detail?

To avoid long lasting and event. unsecure court proceedings we will undertake all to come to a payment of your debtor without need of court proceedings. All our efforts to hit that target we call prejudicial or out of court proceedings.

Out-of-court-activities regularly involving to investigate the actual address and financial standing of the debtor, sending a dunning letter with a deadline for payment (within 8-10 days), correspondence with the debtor in written and by telephone, negotiations concerning an instalment agreement (if recommendable). Further on we check for information at different sources like trade register, internet databases, commercial agencies and resident's address registration office a.s.o..

What are the main problems in practice of debt collection?

To have all relevant and needed information to our disposal like documents, dates of legal events (cancellation, conclusion of contract a.s.o.), full name and postal addresses of witnessess and to find out the exact and actual postal address of the debtor. The address of the debtor is very important for service of documents to the debtor by the court. Often clients do not know exactly the legal identity of their contractual partner (a "GmbH", "GbR", "Ltd." a.s.o.).

Do we have to sign a special contract or agreement?

For our point of view it is not necessary to offer terms of business or sign an agreement because we think that we communicate our conditions very evident and they would be settled in our correspondence. But if you have a suggestion for an agreement please let us know what clauses you would like to have stipulated or send us a draft of an agreement.

What documents do you require?

For collecting the debt we need first of all the documents concerning the contract, invoice (s), dunning letter (reminder), event. credit notes, delivery notes, relevant pieces of correspondence with the debtor.
In simple and obvious cases the invoice and statement of account is sufficient.
It is very helpful for us if you send us a short statement of the development of the business relation and its crisis.

Do I have to send the original documents?
No, copies are sufficient. Please forward the documents by e-mail or facsimile.

Downloads available

FlyerOffer2021.pdf (643.48KB)

FlyerDebtCollection2021.pdf (698.81KB)
PoA debts

PoADebts.pdf (375.47KB)
PoA regular

PoA-E.pdf (41.45KB)

PoA German-English

LoAPoAGermanEnglish.pdf (50.42KB)

Debt collection
FlyerDebtCollection.pdf (668.47KB)

Online Registration Form-Upload

FlyerOCR.pdf (609.56KB)

Course of proceedings-litigation

Facts and Information of German litigation_1.pdf (68.21KB)
Data processing information

Notes of data processing.pdf (48.41KB)

Disclaimer communication
Disclaimer for electronic data traffic pur_1.pdf (34.93KB)

Terms & Conditions
TC 2021.pdf (112.67KB)