In case of late payment the dunning process (pre-legal collection) starts immediately. The dunning process as well as the legal collection process i.e. the pursuit are initiated and managed by Cashare.

Reminders and warnings are sent according to the following schedule:

- Payment reminder after 5 days
- 1. Warning after 10 days
- 2. Warning after 20 days
- 3. Final warning after 30 days

Between the second and the third warning we try to get in contact with the loanee and try to solve the problem directly. It can happen, especially for the payment of the first installment, that not everything is clear to the borrower or that the standing order has simply been forgotten. Most of the time things are cleared up after the first payment and the installments are paid on time.

As soon as the final warning is sent you are informed about our next steps. The final warning usually has a payment term of 10 days. If no payment is made during that time the legal collection process (foreclosure) is initiated.