3.


Safeguarding measures

In case your debtor isn’t able to settle your claim in a speedy manner, we can request that the debtor secure the debt in favour of you - the creditor. This can be done amicably and cost-effectively by providing an acknowledgement of debt, which is authenticated by a notary and is immediately enforceable in case the agreed payment terms are not honoured. The corresponding notary cost has to be carried by the debtor, and the notary will send the enforceable engrossment directly to us. In exceptional cases, the cost of obtaining such a title is advanced by us (e.g. if the debtor is not capable of doing so). The cost is then charged back to you. Approaches like this have to be evaluated on a case-by-case basis and are dependent on the outstanding principal amount.

The debtor can also offer other means of security, such as mortgages, assignments of debt or assets. Contracts must be drawn up for assignments of debt or assets, whilst mortgages have to be registered by a notary.

(End of chapter 3 - Safeguarding measures)

Opt in to our latest publications*
and get the Debt Collections Handbook - Global for free

*We will only use your data in accordance with our Privacy Statement. You can unsubscribe at any time.