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Declaration of guilt

Declaration of guilt

Do you find that a customer is not respecting your payment agreement? Then a statement of debt can be very effective if you can get the debtor's signature on it. Find out much more about statements of debt here.

What is a statement of debt?

A statement of debt is a legal document sent to a debtor by a creditor. In the document, the debtor acknowledges his or her debt to the creditor.

With the debtor 's signature on a debtor's statement, the debtor acknowledges that he or she owes money to the creditor, which can be either a company or private individual(s).

The basic purpose is to obtain the debtor's acceptance that he or she owes the creditor the money.

Some debt declarations also include a repayment plan, for example through an installment plan or similar.

Free debt declaration template

We have prepared a declaration of debt template for you if you want to send out declarations of debt yourself. By downloading our template, you can ensure that your letters comply with all requirements and rules.

Why is a statement of indebtedness better than an invoice, for example?

Basically, an invoice and a statement of debt have the same purpose: to document the existence of a financial relationship between a debtor and a creditor.

The statement of debt is legally considered to be a much stronger piece of evidence, partly because the debtor has acknowledged the debt and signed it.

An invoice is considered a simple claim according to the law (Executive Order of the Act on the Limitation of Claims and the Limitation Act). Simple claims are subject to a limitation period of 3 years. After 3 years, you as a creditor can no longer claim your money for the claim if the limitation period is not interrupted earlier.

Declarations of debt are legally treated differently and are not a simple claim, thus the limitation period is no longer 3 years but 10 years.

If a debtor acknowledges his debt in the bailiff's court, the limitation period is also 10 years - declarations of debt are thus equivalent to a judgment.


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