News about credit management, accounts receivable management, debt collection, debt recovery, credit insurance, factoring, business intelligence such as credit checks and monitoring for fashion, accessories, sports clothing, shoes, textiles, home & living, interior and beauty & jewelry.

LIMITATION PERIOD 2021- SECURE CLAIMS FROM 2018 NOW

The 2021 calendar year will end in 8 weeks. This also applies to the recoverability of all claims in Germany from 2018. It does not matter whether the invoice is from January or December 2018; the german debtor can throw away your unpaid bill after 3 years if you have not taken any [...]

By | November 1st, 2021|news|Comments Off on LIMITATION PERIOD 2021- SECURE CLAIMS FROM 2018 NOW

INVOICE HANDLING VIA MODINT CREDIT & FINANCE

For all companies, large and small, keeping track of accounts payable and accounts receivable is an essential part. When you accurately keep track of incoming and outgoing invoices, you always have an exact and complete overview of income and expenditure, and you can properly coordinate the different cash flows. Of course, you can [...]

By | October 30th, 2021|news|Comments Off on INVOICE HANDLING VIA MODINT CREDIT & FINANCE

NEW COURT FEE SCALE COMING UP

More court fees categories will be introduced for lower monetary claims in subdistrict court cases. This will introduce new court fees for monetary claims from €500 to €5,000. The amount of the court fee in legal proceedings depends on the amount of the claim and is divided into several categories by means of [...]

By | October 28th, 2021|news|Comments Off on NEW COURT FEE SCALE COMING UP

INSURERS IN GERMANY DO NOT WANT TO EXTEND “SCHUTZSCHIRM”

Will the protection for trade credit (= schutzschirm) be extended? The insurers are now taking a clear position: after June 30, they no longer want to make use of the government guarantee, which covers default risks for an amount of 30 billion euros. Bad news for many non-food retailers: the government's protective umbrella for [...]

By | March 29th, 2021|news|Comments Off on INSURERS IN GERMANY DO NOT WANT TO EXTEND “SCHUTZSCHIRM”

GREAT CONCERNS ABOUT CREDIT INSURANCE

What happens if the protection procedure (= schutzschirmverfahren) for trade credit insurance in Germany ends at the end of June? Atradius and Coface are trying to address concerns. Market leader Euler Hermes does not want to talk. Trade credit insurance is on the agenda of many treasury departments in the wake of the corona [...]

By | March 29th, 2021|news|Comments Off on GREAT CONCERNS ABOUT CREDIT INSURANCE

GERMAN REMEDIATION TOOLS DURING CORONA: ‘SCHUTZSCHIRMVERFAHREN’ UND ‘EIGENVERWALTUNG’

Even if state aid, special loans and deferred claims help companies cope with the consequences of the closure of COVID-19, they often have only a temporary effect and cannot compensate for lost sales. At the latest when loans and deferred claims have to be repaid and the obligation to file for insolvency is revived, [...]

By | March 24th, 2021|news|Comments Off on GERMAN REMEDIATION TOOLS DURING CORONA: ‘SCHUTZSCHIRMVERFAHREN’ UND ‘EIGENVERWALTUNG’

CORONA AND CONTESTED INSOLVENCY IN GERMANY (INSOLVENZANFECHTUNG)

The suspension of the obligation to file an insolvency petition exacerbates another problem for companies that have received payments from their debtors during this period. Because if they do have to file for insolvency in the coming years, German insolvency law gives the trustee the right to reclaim payments made by the debtor up [...]

By | March 23rd, 2021|news|Comments Off on CORONA AND CONTESTED INSOLVENCY IN GERMANY (INSOLVENZANFECHTUNG)

SUSPENSION OF BANKRUPTCY OBLIGATION IN GERMANY ONLY UNTIL APRIL 30TH!

In Germany, unlike other European countries, there is an obligation to file for bankruptcy if a company is insolvent or has excessive debts. This obligation applies to all legal entities (GmbH, UG, AG, GmbH & Co.KG), but not to natural persons (even if they have a business) or partnerships in which a natural person [...]

By | March 21st, 2021|news|Comments Off on SUSPENSION OF BANKRUPTCY OBLIGATION IN GERMANY ONLY UNTIL APRIL 30TH!

JAN SCHNEIDER-MAESSEN FROM BvCM: “MORE VIGILANCE REQUIRED”

Almost 30 percent of German companies have taken precautionary measures in their credit management for the current corona wave. At the same time, many companies allow long payment terms - a high risk in the current situation. This is the result of the latest survey by the Bundesverbandes Credit Management (BvCM) on the consequences of [...]

By | March 21st, 2021|news|Comments Off on JAN SCHNEIDER-MAESSEN FROM BvCM: “MORE VIGILANCE REQUIRED”

LIMITED PERIOD DEVOURS LIQUIDITY!

All fashion companies that do business in Germany and have agreed to the application of German law are in danger of permanently losing the right to old claims at the end of the year. At the end of the year, all claims that arose under German law in 2017 will expire and therefore expire [...]

By | December 14th, 2020|news|Comments Off on LIMITED PERIOD DEVOURS LIQUIDITY!