Remisse

The word remisse comes from the French remise and in its basic form means "payment", "put back" or "put in place". Today, the word is mainly used in finance, law and debt collection when money accrues to a creditor and is "put in place" by the creditor.

A remittance is often also used as a term for the final statement, receipt or documentation showing how much the creditor receives from the bailiff, collection agency or lawyer. On the remittance, the creditor can see the final statement of how much the debtor has paid, less any costs for the lawyer or collection agency.

What does a remisse contain?

Remisse, as mentioned, comes from the French word remise and means "to put back". In a legal context, this is exactly what a remisse documents: how much is put back into the creditor's account when a debtor makes a payment via the creditor's collection agency or lawyer.

There are no fixed requirements for the formality, layout or wording of a remittance. However, it must give a clear and complete picture of what is being deposited into the creditor's account and what costs the lawyer or debt collection agency has deducted.

For example, a simple outline might look like this:

• Debtor's payment(s)
• The collection company's commission
• Deposited to the creditor's account

Multiple referrals on the same case

Many creditors may receive multiple referrals on one case, which can be confusing and confusing.

This is because many debt collection companies and lawyers settle with their customers on an ongoing basis as payments from the debtor accrue to them.

If an installment plan has been established with the debtor or if the debtor for other reasons reduces their debt in smaller installments, the creditor will also receive their money in smaller installments and thus get more remittances.

If you have specific requirements for how payments, settlements and remittances are handled, you can check with your debt collection company. There are often several options and solutions for the settlement of debt collection cases.

The reminder is your documentation for bookkeeping

It's important that you understand the remittances that your debt collection company or lawyer sends to you. The remittance serves as a statement, receipt and documentation of payments made and expenses incurred in the collection of all or part of your claim.

You won't typically receive an invoice from the debt collector or lawyer, so the remittance serves as the basis for your documentation of the payments. It's also important for documenting any tax-deductible costs you may have incurred with your debt collection agency.