Credit Monitoring

Monitoring of Debt Collection for temporarily non-recoverable credits in Germany

Monitoring of temporarily non-recoverable credits in Germany
Anyone having a temporarily unenforceable credit with a German company can recover the debt even after 30 years, thanks to Creditreform.

Monitoring Procedure
When the creditor's lawyer has obtained an enforcement order from the court this can be served on the debtor. When the order cannot be enforced because the debtor has issued a sworn bankruptcy statement, this does not mean that the credit has been definitively lost as the enforcement order remains valid for 30 years. The enforcement order can be served throughout this period. Creditreform may check when the debtor is solvent again and thus enforce the old sentence at the appropriate time.

Through monitoring Creditreform takes appropriate measures as soon as recovery becomes a possibility. Until then we keep track the debtor's solvency, for up to 30 years.

  • In Germany a debt normally lapses after three years.
  • The prescription is extended to 30 years if the creditor obtains an enforcement order.
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