forældelse: what does it mean in Danish debt collection?
forældelse in English: limitation (time bar)
info General information, not legal advice. Always check the current rules and get advice on your specific case. Disclaimer
Short answer
A claim becomes time-barred when the period has expired, and payment can then no longer be demanded. The general period is 3 years.
Explanation
Under the Limitation Act, the general period is 3 years, while IOUs and judgments, for example, have 10 years. Reminders and collection letters do not interrupt the limitation period. The debtor's acknowledgment of the debt does, for example a paid instalment (section 15), as do legal steps such as a payment order or a writ. There are special rules and extensions, so get advice if the deadline is getting close.
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Tool: Limitation period calculator: when does a claim expire?
Related terms
- anerkendelse acknowledgment
- forlig settlement
- gældsbrev IOU, promissory note
- forfaldsdag due date
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