What Are the Common Reasons for Unsuccessful Debt Collection Attempts in Germany?
Contributed by Dr. Stephan Ebner, DRES. SCHACHT & Kollegen, Germany.
The most common reason is insolvency of the debtor.
If there is no more money available that could be collected, the collection simply fails.
Another standard case is a debtor being untraceable.
This means that the respective Court of Law cannot even initiate a lawsuit. Followingly, the authorities cannot collect any money.
Contributor: Dr. Stephan Ebner
Agency/Firm: DRES. SCHACHT & Kollegen
Position/Title: Rechtsanwalt, Attorney at Law (NY)
Country: Germany / USA
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The Q&A Global is a special column run by CJO Global, and serves as a knowledge-sharing platform to facilitate peer learning and networking, and to provide the international business community with a global landscape of this industry. This post is a contribution from Dres. Schacht & Kollegen. Dres. Schacht & Kollegen was founded in 1950 and is a law firm with four offices in Germany. They advise and represent domestic and foreign companies, institutions and individuals in all legal and strategic matters.