Cashare conducts debt collection proceedings on behalf of the investors. We keep you informed of every step. We cannot influence the deadlines of the debt collection offices and courts; proceedings often take several weeks to months.
- Payment order: The debt collection office serves the payment order on the debtor. The debtor has 10 days to raise an objection and 20 days to pay (Art. 69 and 74 DEBA).
- Objection: If the debtor disputes the claim, we apply to the court for the removal of the objection. Beforehand, we give the debtor the opportunity to withdraw the objection. The loan contract counts as an acknowledgement of debt, so the court usually grants the removal of the objection. Cashare pays the advance on costs.
- Request to continue: If the debtor does not pay and no objection is pending any more, we file a request to continue the debt collection proceedings with the debt collection office.
- Seizure or bankruptcy: Depending on the debtor, the proceedings continue by way of seizure or bankruptcy, see What happens in the event of a seizure or bankruptcy?
The terms are also explained in the credit glossary.