For the debtor

If you are in debt

If you have received a reminder or warning letter (letter of claim) from either a creditor or a debt collection company regarding your debt, we strongly recommend that you respond to it.

The fastest way to get rid of debt is to pay it off.

If you are unable to pay the debt at once, we strongly recommend contacting the sender of the letter of claim. The sooner an agreement is reached on how to pay the debt, the lower the additional costs for you as the debtor.
Get in touch with us and together, we will find a solution to pay the debt.

In case of late payment, interest will be charged. Interest can be charged until you have paid your debt. Also, the creditor will have the right to charge the collection costs and compensation for any damages from you.

If you do not respond to the creditor’s letter of claim, the creditor will usually take the following legal action. First, the creditor will usually publish information about your debt in public registers. The next step for the creditor is to file an application with the court, which entails a state fee and costs of legal assistance and, as a rule, the legal costs are borne by the debtor. It should be kept in mind that sometimes the procedural costs are larger than the debt itself.

“As the proverb goes: “Who borrows has to pay back his debt”.

We recommend that the debtor communicates with the creditor and its representative. If the debtor is responsive and tries to find solutions, this will prevent additional costs for both parties and is the best solution given the circumstances – with regard to both time and money.”