The debt collection procedure is not complicated in a matter of steps, however, it can be shorter or longer depending on the method selected to recover the outstanding amount of money. In Germany, the steps related to debt collection are not different from those taken in other countries, no matter if we are discussing EU or non-EU…
Germany is EU’s most prolific economy and thanks to this economic stability many individuals and companies access loans which enables them to purchase properties, respectively expand their business operations. However, their solvability is not entirely connected to the country’s economic stability which is why financial problems can lead to failure…
Germany is one of the most important countries in the European Union from an economic point of view, nevertheless, companies and citizens here can also face difficult times which lead to the impossibility of complying with their financial responsibilities. Most of the times such cases lead to the recovery of debts which…
Germany is one of the charter members of the European Union and has had a vital contribution to its development, which also covers the issue of recognition of a decision taken by the European Court. Established in 1952, the European Court of Justice ( ECJ) has the main responsibility to ensure…
Debt collection in Germany implies several steps. The first one is the amicable attempt to recover the outstanding amount of money, followed by the court proceedings if the sum was not recovered and ends with the seizure of assets which is ordered by the judge. In Germany, when a debtor can not honor…
The enforcement procedure is the last phase of the civil trial in which a creditor may achieve the rights settled by a court decision. If the debtor does not voluntarily comply with the obligation established by a court or a title, it brings out the enforcement proceedings. The German Law provides that it…
