afdragsordning: what does it mean in Danish debt collection?
afdragsordning in English: instalment plan
info General information, not legal advice. Always check the current rules and get advice on your specific case. Disclaimer
Short answer
An agreement to pay the debt in instalments. With consumers, an instalment plan with costs may fall under the Credit Agreements Act (kreditaftaleloven).
Explanation
An instalment plan should always be agreed in writing, with amounts, dates and what happens if an instalment is missed. When the debtor pays an instalment, they also acknowledge the debt, which interrupts the limitation period. If the creditor adds interest or fees to a plan with a consumer, the consumer credit rules may apply, so getting advice is a good idea.
Read more
Article: Instalment plans
Related terms
- kreditaftaleloven the Credit Agreements Act
- anerkendelse acknowledgment
- betalingspåkrav payment order
- CVR-nummer CVR number (company registration number)
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