Check Your Statutes of Limitations

Every year millions of Euros get lost because of statutes of limitations not been checked. Therefore early enough for the end of the year you should check all your receivables concerning limitations.

Tardy debitors are not rare. And lots of them benefit from creditors not claiming their money because the expire by limitations. When the statute of limitation is finished the debitor can refuse payment. Then enforcement by law is no longer possible for the creditor – even if the claim stays active and may still be pay voluntarily by the debitor.

In Germany the general stute of limitation takes three years. It starts with the end of the year when the claim originated. For claims dated 2008 the statute of limitations ends 31st of December 2011.