How compulsory execution affects you...
Given the pressure of rising costs for compulsory execution measures and the highly complex application process, it’s essential to avoid bad debts and take suitable countermeasures as soon as the debtor defaults. Creditreform offers an optimal mix of risk prevention measures and steps for reducing defaulted payments.
Creditreform’s intelligence and reporting products have proven their unmistakable value, especially in the field of preventing bad debts. By condensing and evaluating information from a wide range of sources, they offer you a quick and easy summary for assessing your customer’s solvency.
The reform of Germany’s compulsory execution law improves maneuvering flexibility, but also increases the need for sound expertise in the various compulsory execution alternatives and options.
Creditreform’s debt collection experts take this in their stride in their every day business. Besides having the necessary legal background knowledge, they also fall back on their extensive, day-to-day practical experience and close contacts with bailiffs and specially trained and qualified judicial officers.
This avoids you throwing good money after bad.
Introduction of mandatory forms
Standardizations generally result simplified, more efficient process handling. For this reason, the reform of Germany’s compulsory execution legislation also provides for the introduction of mandatory application forms in § 753 (3) of the Code of Civil Procedure (Zivilprozessordnung, ZPO). Since March 1, 2013, applications for judicial search orders, and attachment and transfer orders due to maintenance claims and regular outstanding debts, can only be made using the Bundesrat-ratified standard forms. The introduction of mandatory forms for the remaining compulsory execution areas is planned for later.
New disclosure procedure
The flexibility improvements in Germany’s compulsory execution legislation also encompass a reform of the disclosure procedure. Whereas the provision of the affidavit and entry in the debtors’ register used to occur synchronously, the new compulsory execution law provides for a strict separation of procurement of the debtor’s so-called asset schedule and publication of the associated information in the debtors’ register.
We’d be glad to advise you on how you can underline the claim to your receivables.
If you like, we can also continue to monitor your judicially recognized claim in the framework of our Creditreform Monitoring Service, in which case we’ll keep an eye on your debtor for up to 30 years.
- Feasibility analysis before initiating compulsory execution measures
- High probability of success due to selective compulsory execution
- Personal support by trained experts
- Compliance with all statutory form guidelines
- Close-knit “best practice” network