Debt collector

Bridesmaids
Groomsmen & Bridesmaids Hire
10. February 2021
Broke up a relationship
End a Relationship
16. February 2021
Debt collector

Private money collector As a landlord, businessman or wealthy private individual, do you have problems with debtors who are unwilling to pay? Don’t your customers pay open invoices?
Get rid of unnecessary worry and get more freedom to enjoy the beautiful sides of life undisturbed. Give the collection of outstanding receivables into the hands of private money collectors. By outsourcing debt collection to a professional team of private money collectors, you gain more free time and no longer have to deal with the questions of whether, when and how to get your money back.

Debtor does not pay – a misery for creditors

When it comes to money, as we all know, friendship ceases. But also business relationships and tenancies. Whether you’ve lent money, given someone a personal loan, your tenant doesn’t want to pay their rental debt, a customer doesn’t pay their bills, or your business partner is struggling to make agreed payments. You have no money to give away and a legitimate interest in getting your money.

That is easier said than done. If a debtor cannot or does not want to pay, you will suffer economic damage, a lot of hassle and also an immense amount of time to take all possible means to collect your money claims. But the outcome of your efforts is questionable. In particular, unwilling customers find ways and means to sway creditors. Sometimes the defaulters speculate that landlords, lenders and former business partners will sooner or later give up and write off their money.

If the creditor exhausts all legal remedies for debt collection, he will incur further costs in addition to the outstanding arrears, which are not insignificant. The emotional burden of having to deal with grueling dunning procedures and court proceedings should not be underestimated either.

In fact, many creditors are defeated if, after years of struggle, they are still stuck on their debts and, instead of the expected incoming payments, they also face additional costs in addition to the amount owed. The chances of debtors successfully depressing themselves against payment obligations are therefore high.

In particular, when it is a matter of small amounts of money and legal, debt collection or legal costs add up, it may, unfortunately, make sense for the creditor to stop the efforts to collect the money owed. The bureaucratic burden takes a lot of time and causes enormous costs, so that a consistent receivables management hardly pays off with small debt sums.

What are the ways to ask debtors to pay?

If someone owes you money, you have various legal options, at least theoretically, to enforce your legitimate claims before commissioning private money collectors. In the first step, a friendly payment reminder is the right way. If the debtor does not react and fails to pay the debt, further payment requests and reminders confer a certain amount of

Reprint. However, dunning procedures do not always result in the defaulting debtor fulfilling his obligations to pay the debt. Going to court is the next consequence if you want to follow the formal legal path to take action against the person who is unwilling to pay.

Commission collection service and obtain titles

If the above-mentioned debt recovery measures remain fruitless, a debt collection company or a lawyer may be appointed to increase the pressure on the debtor. The commissioning of a debt collection company is low-threshold and can already take place if outstanding claims exist and the debtor is in default of payment.

However, it is regularly shown that those who do not want to pay their debts are rarely impressed by letters from lawyers and debt collection. As a final instance, a court may be called in to obtain a notice of formal notice and debt. This path does not necessarily lead to success if the person in default is actually insolvent or pretends not to be able to pay his debts by questionable methods.

Tip: If there is a reasonable presumption that this is a fake insolvency because the debtor conceals his income and assets from the bailiff, a private debt collector may also be able to exert pressure on the refuse to pay in cooperation with a detective.

Reminder notice, attachment & foreclosure often unsuccessful

If an eviction claim or an enforcement order has been obtained, you, as a creditor, are entitled to entrust a bailiff with the enforcement, to have the debtor seized and to demand the lodging of an asset information if the latter continues to fail to fulfil his payment obligation or only partially serves it.

However, debtors enjoy attachment protection up to a certain exemption limit. If the bailiff encounters the person and must determine, however, that he is officially penniless and does not have any claimable assets, enforcement measures shall be unsuccessful. Even the invitation to provide an affidavit (asset information) does not bring the desired success if the debtor has found ways to conceal his actual assets and to protect them from attachments.

Collecting debt costs money

If you, as a creditor, want to use all legal means to enforce your claims, you will have to reach deep into your pocket, as all fees incurred are to be paid by you.

In general, in the case of justified claims, the costs of:

  • Reminders
  • Reminder notices
  • Collection procedures
  • Judicial proceedings
  • Enforcement measures

Imposed on the payment culprit. In addition to the debts, you can also claim your expenses for these expenses against the refuser. Nevertheless, you have to go in advance; so their financial loss continues to grow. If the debtor’s insolvency or unwillingness to pay persists, you will in fact remain seated on your open post and expenses.

Unfortunately, this also applies if you have successfully obtained an eviction lawsuit against your defaulting tenant and have it vacated from the property. You’re likely to be stuck at all costs.

Private money collector recovers your money

With large amounts and a debtor who is able to pay but are unwilling to pay, it is worth exhausting all the possibilities to get your money. In many cases, commissioning private money collectors can be the better alternative to successfully recovering money claims.

When should a private money collector be hired?

As a creditor, you can always hire a private debt collector. This procedure makes perfect sense if you have knowledge that the debtor has financial resources or disputable assets, so that it must be assumed that debt repayment is possible in principle.
Indications of a debtor unwilling to pay:

  • The tenant of your luxury property drives an expensive car.
  • Your defaulting borrower leads a life of sows and brews.
  • The former business partner runs a good business together with a straw man.
  • You know that the person owns artifacts, securities, large sums of cash, foreign accounts, etc., or even falsifies the balance sheets.

If there is a concrete presumption in this respect, but no security yet, the use of a detective should be considered.

How do private money collectors take care of debt?

If you hire an experienced private money collector from our Alibi Agency, this will contact your debtor and act as a mediator in order to legally enforce your financial claims. The private debt collector aims to enter into a payment agreement with the person and to monitor compliance with the agreed payments.