Danish debt collection glossary: Danish to English

afdragsordning instalment plan

An agreement to pay the debt in instalments. With consumers, an instalment plan with costs may fall under the Credit Agreements Act (kreditaftaleloven). Instalment plans

anerkendelse acknowledgment

When the debtor expressly or by their conduct accepts the debt, for example by paying an instalment. Interrupts the limitation period. Limitation period calculator: when does a claim expire?

betalingspåkrav payment order

A simplified procedure at the bailiff's court for undisputed money claims of up to DKK 100,000 excluding interest and costs. Filed via minretssag.dk. Payment orders: the fast route to enforcement

CVR-nummer CVR number (company registration number)

A company's 8-digit number in the Central Business Register. Check a company in the CVR register

ejendomsforbehold retention of title

An agreement that the seller keeps ownership of goods until they are paid for. Only valid on certain conditions. Retention of title

erhvervsdrivende business, trader

A business, or a person acting in the course of their trade. Debt collection from individuals vs businesses

factoring factoring

You sell or borrow against your invoices with a finance company and get the money sooner. Factoring

fogedretten bailiff's court

The part of the district court that deals with enforcement, such as attachment (udlæg), and handles payment orders. Payment orders: the fast route to enforcement

forbruger consumer

A private individual acting mainly outside their trade. Consumers have more protection than businesses. Debt collection from individuals vs businesses

Forbrugerombudsmanden the Consumer Ombudsman

The authority that enforces good debt collection practice and the Marketing Practices Act. Good debt collection practice

fordring, krav claim

The right to payment or another performance.

fordringshaver, kreditor creditor

The party who is owed the money.

forfaldsdag due date

The last day for payment. If it was fixed in advance, late-payment interest runs from that day. The Interest Act: late-payment interest

forlig settlement

An agreement that resolves a dispute. A voluntary settlement (frivilligt forlig) is an agreement with the debtor to pay, often in instalments. Settlement and mediation

forældelse limitation (time bar)

A claim becomes time-barred when the period has expired, and payment can then no longer be demanded. The general period is 3 years. Limitation period calculator: when does a claim expire?

gældsbrev IOU, promissory note

A written acknowledgment of debt. Becomes time-barred after 10 years. If it expressly says it can be the basis for enforcement, it can go straight to the bailiff's court.

god inkassoskik good debt collection practice

The standard that debt collection agencies and lawyers must follow when collecting debts. Good debt collection practice

hovedstol principal

The original amount owed, without interest and fees.

indsigelse objection

The debtor's statement that the claim or the amount is disputed. When the customer disputes the debt

inkasso debt collection

Recovering unpaid claims.

inkassobureau, inkassovirksomhed debt collection agency

A business that collects debts for others. Requires authorisation from Rigspolitiet. Lawyers are exempt. Choose the right debt collection agency

inkassoomkostninger collection costs

The costs of out-of-court recovery. They are capped according to the size of the claim. Debt collection costs: what may an agency charge?

inkassovarsel, påkrav debt collection notice, letter of demand

The letter that must be sent before any other collection steps: all the information needed to assess the claim and a deadline of at least 10 days from sending. Reminder and debt collection notice generator

kompensationsbeløb fixed compensation

A fixed DKK 310 for late payment, which can only be charged to businesses and public authorities. Late-payment interest, fees and collection costs calculator

konkurs, konkursbo, kurator bankruptcy, bankruptcy estate, trustee

When a debtor goes bankrupt, the estate is managed by a trustee, and creditors lodge their claims in the estate. When a customer goes bankrupt

kreditaftaleloven the Credit Agreements Act

The Act on credit to consumers, which can apply to instalment plans with costs. Instalment plans

kreditforsikring credit insurance

Insurance that covers losses if a customer does not pay.

morarente late-payment interest

Interest for late payment: the reference rate plus 8 percentage points a year (section 5 of the Interest Act). Late-payment interest, fees and collection costs calculator

procesrente interest in court proceedings

A term for the late-payment interest claimed in a court case. The rate is the same as under section 5 of the Interest Act. The Interest Act: late-payment interest

referencesats reference rate

The Nationalbank's official lending rate on 1 January and 1 July. The basis for late-payment interest. Late-payment interest, fees and collection costs calculator

rekonstruktion restructuring

A procedure in which a business in financial difficulty tries to carry on instead of going bankrupt. Restructuring

retsafgift court fee

The fee for having a case dealt with by the court, for example DKK 750 for a payment order. Payment orders: the fast route to enforcement

Rigspolitiet the Danish National Police

Authorises debt collection agencies.

rykker, rykkerbrev reminder, reminder letter

A letter reminding the customer of an unpaid bill. Reminder letter templates

rykkergebyr reminder fee

At most DKK 100 per reminder, for at most 3 reminders, at least 10 days apart. Reminder letter templates

skyldner, debitor debtor

The party who owes the money.

småsag small claim

Court cases about claims of up to DKK 50,000 are as a rule handled under the special small claims rules, where the judge guides the parties. When the customer disputes the debt

stævning writ, statement of claim

The document that starts a lawsuit. Interrupts the limitation period when it is filed with the court. When do you need a lawyer?

udlæg attachment (enforcement against assets)

The bailiff's court's seizure of the debtor's assets as security for the claim.

Voldgiftsnævnet the Danish Building and Construction Arbitration Board

Usually deals with disputes in the construction industry. Debt collection in the construction industry

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