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So, how do creditors protect themselves against fraudulent debitors? If someone owes me money in the US, I don't have any means to send a legal request? I Ger
by cbmuser 6y ago
So, how do creditors protect themselves against fraudulent debitors?
If someone owes me money in the US, I don't have any means to send a legal request?
I Germany, I can just go to court without needing a lawyer and the court will eventually send a bailiff if my claim is justified.
- behringer 6y agoYou're out of luck. That's why we are so reliant on the credit reporting agencies. There is some recourse if you already own assets. There are two types of loans. Secured and unsecured loans. Secured loans are backed by assets and those certainly can be forcibly removed. Unsecured loans (the vast majority of smaller credit card type loans), have no backing and the lost money is generally understood to be recovered through interest payments.