KSV1870 debt recovery creates room for manoeuvre!
Why you should opt to use KSV1870 for debt recovery?
- Strength: our name works miracles.
- Experience: we know what steps bring success.
- Knowledge: we know your debtors and their financial standing.
- Sectors: we are experts for various sectors.
- Fair-to-debtors: We cap the costs, even when the reminder process involves several steps.
- Debtor services: Digital services for rapid payment.
- Solutions: We talk to everyone involved and give advice.
- Interfaces: A direct connection to our systems.
For fees for domestic debt recovery and the General Terms and Conditions of KSV1870 Forderungsmanagement GmbH, please go to downloads.
7 weeks with a clear decision
Accounts receivable cost time and money! Even small receivables, if they remain unpaid for a lengthy period of time, can cause considerable losses. Then there is the risk involved: the longer an invoice remains unpaid, the greater the probability that it will not be paid at all.
After at most 7 weeks, you will either have received payment or a basis on which to decide whether taking legal action is economically viable or whether the case should be assigned to debt recovery monitoring.
Submitting your case brings a quick decision rapidly. So, make sure you submit your claim to KSV1870 for debt recovery as soon as possible!
International Debt Recovery
Long distances, language barriers and legal requirements often present a challenge. Whether your customer is in Italy, France or the USA – we stand up for you and take care or your outstanding receivables abroad. A team of native speakers with years of experience and knowledge of the country-specific circumstances will be working on your behalf. We collaborate closely with international and qualified partners which is how we get you your money back.
Membership offers you special advantages for debt recovery
- Annual vouchers for domestic debt recovery at special terms: you receive the default interest collected, since no customer fee is charged. In case of cancellation in out-of-court recovery, the processing fee is waived.
The credited amounts are immediately reconciled against your receivables. Only then do we set about ensuring that our costs are covered.
- In our My KSV Member Portal, you always see the current status of your case, you receive messages, can send us messages and access statistics related to your cases. A particularly practical feature is the option of generating a report for your tax advisor or auditor for the assessment of open cases at the end of the year.
Debt recovery services are not free. If we are successful, we will transfer the recovered principal to your account, plus any late interest you claimed at the time of submission. Any debt recovery fees incurred during debt collection are recovered from the debtor as compensation to the customer. Payment by the customer is deferred until such time as the fees can be recovered from the debtor.
If a claim cannot be recovered out of court, the course of action most favourable for the customer is taken, adjusted to reflect the prevailing situation.
If taking the action we recommend, conducted by one of our association lawyers, does not achieve the desired result and if the claim is irrecoverable even after court action (upholding judgment, yet enforcement unsuccessful), court costs and cash expenses must be paid by the customer, while we cover the lawyer's fees.
In order to be able to process your order as quickly and efficiently as possible, please provide all the accounts receivable data:
- Invoice (number, date, due date) or account statement
- Claimed amount, default interest, late interest as well as
- Debtor information: exact wording of company name or first and family name for private individuals, address, telephone number, email address (if in doubt: the more information you can provide us, the better) and finally
- Your details: company name, bank details, contact partners, VAT number, KSV1870 number, if available.
The costs of debt recovery in court depend on the amount of the claim and the legal steps necessary. Therefore, they can only be estimated, and no exact amount can be specified in advance. Naturally, we will be happy to advise you on whether legal action is recommended in your respective case.
As early as 24 hours after receiving your order, we inform the debtor and also notify the latter that unjustified delays in payment can have a negative impact on the debtor's credit standing. At the same time, our customer receives a confirmation.
Our further action depends upon the course the debt recovery takes and on the debtor's reaction. Possible additional tools we may avail of are telephone calls or another reminder letter. Personal debt recovery may also be a suitable means to success. The information available about the debtor, the debtor's credit standing, any payment records, legal actions, etc. may also be decisive factors when it comes to the manner in which debt is collected. On the basis of these, we advise our customers on the further course of action in the event that out-of-court settlement does not prove successful.
Experience shows that, in most cases, out-of-court settlement takes no longer than 7 weeks, and every third debt recovery takes no more than 14 days.
In this event, we will close the debt recovery case and hand over the documents available to the insolvency department. At the same time, our customer receives notification and a form granting power of attorney related to the mandate of representation.
If insolvency occurs during out-of-court recovery, the customer shall not be charged any costs.
If the case is already pending before court, it will be invoiced in accordance with the fees list (court fees and cash expenses). We take these costs into account in the context of representation when the insolvency proceedings are filed.
If a claim cannot be collected outside of court and legal action is not desired or is not recommended for particular reasons, we assign the case to debt recovery monitoring. This means we continue to pursue debt collection within the statutory limitation period.
Bad debt recovery is defined as the continued pursuance of a debt collection case which continues to be irrecoverable, despite existence of a court ruling. We pursue bad debt recovery only with regard to personally liable and sentenced partners or private individuals within the statutory limitation period of 30 years and decide, based on the respective situations, whether court or out-of-court measures are most appropriate.
To engage our services, please provide the final order to pay, writs of execution and the lawyer's bill.
You can find the Order Form for Bad Debt Recovery here.
Yes, we will be happy to take care of debt recovery from foreign debtors. To be able to carry out the order for you as swiftly and efficiently as possible, please provide
- all claim details: invoice (number, date, due date) or account statement, claimed amount, default interest, late interest as well as
- debtor information: exact wording of company name or first and family name for private individuals, address, telephone number, email address (if in doubt: the more information you can provide us, the better) and finally
- your details: company name, bank details, contact partners, VAT number, KSV1870 number, if available.
Find the International Debt Recovery Order Form here.
Unfortunately, no. We only accept orders from companies. Debtors can be both a company or a private individual.