Glossary

A legal entity (company) engaged in collecting overdue debts, either by purchasing and owning the debt or by providing collection services on behalf of the creditor, in accordance with applicable regulations.

A measure that temporarily restricts access to funds in a bank account. This occurs when enforcement proceedings are initiated on the funds, directing the money to the creditor to settle the debt.

The transfer of a claim from one creditor to another. The debtor’s obligation remains the same, but from that moment on, the debt must be paid to the new creditor.

The deadline by which a payment obligation must be fulfilled. After this date, the debt is considered overdue, and statutory default interest may accrue.

The amount unpaid by the due date. Such debt may be subject to reminders, repayment agreements, or further collection actions.

A monetary obligation the debtor owes to the creditor, arising from a contract, invoice, or other legal basis.

An individual or legal entity obligated under a contract, invoice, or other legal basis to pay a specified amount or fulfill an obligation.

The Financial Agency responsible, among other duties, for enforcing collection on funds held by individuals and legal entities. In case of enforcement on an account, FINA carries out the collection according to legal regulations.

The original amount of the debt arising from the purchase of goods, use of services, contract, or other legal basis. This amount excludes interest and additional costs.

The International Bank Account Number to which payments are made. It is important to enter the IBAN correctly to ensure proper payment processing.

Debt collection achieved either through voluntary payments or enforcement without court involvement.

Means and legal mechanisms used to secure debt repayment, such as promissory notes, mortgages, guarantees, wage garnishment consents, and similar tools.

A guarantor is a person who, by agreement, commits to paying the debt if the primary debtor fails to do so. The creditor has the right to seek repayment from the guarantor as well.

The fee the debtor pays for borrowing money or for late payment.

The percentage rate at which interest on a debt or loan is calculated.

A contractual agreement where a sum of money is provided for use, with an obligation to repay within an agreed term and interest.

An agreement between debtor and creditor to settle the debt under specific conditions, such as partial debt forgiveness or installment payments.

The process of seeking payment of overdue debt, either voluntarily or through enforcement.

An arrangement where the debt is paid in multiple smaller, pre-agreed amounts over a set period, rather than in a lump sum.

A notification informing the debtor that the debt remains unpaid and urging payment before further action is taken.

An official warning that if the debt is not paid within a specified period, enforcement proceedings will be initiated.

A legal process of compulsory debt collection after the due date has passed. Enforcement can be applied to bank accounts, wages, or other assets.

A procedure where a portion of the debtor’s salary is automatically directed to the creditor to settle the debt, following legal regulations.

A numeric code that must be included with a payment to link it to a specific debt or case.

The creditor’s right to demand payment or fulfillment of an obligation from the debtor based on a contract, invoice, or other legal basis.

An individual payment amount within an installment repayment plan for a debt or loan.

An official document issued by an authorized body ordering enforcement to collect a debt and specifying how it will be carried out.

The total amount of debt that must be paid.

An arrangement between debtor and creditor regarding the method and schedule of debt repayment.

A person who is jointly and severally liable with the debtor for fulfilling the obligation to the creditor.

A document proving the existence and amount of the claim, such as an invoice, statement, or other official record.

An individual or legal entity entitled to demand payment or fulfillment of an obligation from the debtor.

A document through which the debtor, co-debtor, or guarantor consents to direct collection of the debt from their accounts in case of non-payment.

Statutory interest charged when a debt is not paid on time, calculated from the due date until the payment date.