No cure no pay

No cure no pay means that if nothing is paid by the debtor during a collection process, we will close the file free of charge.

Cure,No Pay means that if the debtor pays our claim in full, you will receive the full invoice amount. By full payment we mean the invoice amount, the interest and collection costs. You do not pay any commission costs on the amounts received, administration costs, subscription costs or other costs with us for carrying out a collection order.

Credifin Nederland works on both a No Cure, No Pay and a Cure, No Pay basis: If nothing is paid in a collection process, it will cost you nothing. If your debtor pays in full, you will receive the full invoice amount!

There are never any costs associated with outsourcing a collection assignment to Credifin Nederland. From a legal point of view, all partial payments received are first deducted from the collection costs and then from the invoice amount. The debtor therefore pays our collection costs. In the unlikely event that the collection procedure does not lead to full payment, but a part has been paid, the collection costs paid by the debtor will be deducted from the payment.

We will then demand that your customer pay us the interest and collection costs. We will do everything we can to get the costs paid, so that they are not for your account. It can also happen that the interest and collection costs are not paid, for example because of a dispute or for financial reasons. In that case you can choose to start legal proceedings or to bear the collection costs yourself.

A collection procedure mainly consists of sending payment requests/summations, whereby we make it as easy as possible for the debtor to pay. This is usually done by e-mail, telephone, SMS and by post. Carrying out a home visit, having an investigation carried out into the creditworthiness of a company or starting legal proceedings / attachment are additional services that do not fall under the standard collection process.

There are collection agencies that advertise with so-called collection on a No Cure, No Pay basis, but if you read the fine print, many exceptions appear to apply, so that you eventually lose (a lot of) costs bent. For example, an agency can use that as conditions for no cure no pay;

• The claim is at most 1 year old
• The claim is undisputed/undisputed
• The claim contains at least an X amount, etc.

If you do not meet these conditions, in many cases you will still have to pay costs.

At debt collection agency Credifin Nederland we really work on a 100% No Cure, No Pay basis. So it does not matter how old your claim is, how high the amount is and whether it is a disputed claim: if payment is not made during the collection process, we will simply close the file free of charge!

No Cure,No Pay always only applies in the collection process. The moment a court action is made, you as a creditor always have to deal with various costs that we have to pay to the court, which we invoice to the client. Of course we will never just start legal proceedings without discussing this with you. You will receive a thorough cost/benefit analysis from us. For further information see > judicial proceedings