GERMANY

Not only debt purchasers who purchase sizable portfolios will utilize a lawyer to assist in managing their outstanding demands across multiple collection methods. Given the time-sensitive nature of the assets, many in the debt collections industry think there is a competitive advantage in utilizing the immediat collection technique as it gives the creditor more control and flexibility to maximize the collections. Lawyers in Germany offer a flat fee collection service. This service sends a series of written reminders, usually fourteen days apart, instructing debtors to pay the amount immediatly and directly to the creditor's lawyer or risk a collection action and later on a court procedure. Depending on the terms of the contract, the accounts may revert to a kind of hard collection status at the lawyer's regular rates if the debtor does not react or respond... Collection of debts and cashing in Germany by lawyers in Hamburg

Primary location: United Kingdom