What happens if we do not make a payment on time?

For instalments and interest payments, we send reminders in fixed steps:

1. Payment reminder 5 days after the due date, free of charge.
2. 1st reminder notice 10 days after the due date.
3. 2nd reminder notice 20 days after the due date.
4. Final reminder notice with notice of debt collection proceedings 30 days after the due date, with a payment deadline of 10 days.

Repayment of the short-term loan: If the payment at the end of the term is not made, the final reminder notice with notice of debt collection proceedings follows as early as 5 days after the due date, with a payment deadline of 10 days.

From the 1st reminder notice onwards, reminder fees are charged, see How much are the reminder fees? In addition, late-payment interest applies to the outstanding payments, see How high is the late-payment interest? If payment is still not made after the final reminder notice, the entire loan may become due for repayment and we will initiate debt collection proceedings. For companies entered in the commercial register, this can lead to bankruptcy. If there is security, Cashare can also call on the guarantee or the mortgage lien.

If your company is ever unable to make a payment, please contact the support team early. Together, we can often find a solution.