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Debt Recovery Letter

Debt Recovery Letter Template for Austria

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Key Requirements PROMPT example:

Debt Recovery Letter

"I need a Debt Recovery Letter under Austrian law for recovering 鈧50,000 from a manufacturing company that has missed three consecutive payments, with the final payment due date being January 15, 2025; this is urgent as we're approaching the 90-day mark."

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Document background
The Debt Recovery Letter is a critical document in Austrian business practice, serving as a formal demand for payment of outstanding debts. It is typically used when previous informal attempts to collect payment have failed and before initiating legal proceedings. The document must comply with Austrian civil law requirements, particularly the ABGB (Austrian Civil Code) and the EO (Enforcement Act). It should include precise details of the debt, calculation of interest according to Austrian statutory rates, and clear payment instructions. When used with consumers, it must also comply with the Austrian Consumer Protection Act (KSchG). The letter serves both as a final warning to the debtor and as potential evidence in subsequent legal proceedings, making it an essential tool in the debt recovery process.
Suggested Sections

1. Sender Details: Full legal name, address, and contact information of the creditor or their representative

2. Recipient Details: Full legal name and address of the debtor

3. Date and Reference: Current date and any relevant reference numbers

4. Subject Line: Clear indication that this is a formal demand for payment

5. Debt Details: Precise amount owed, original due date, and nature of the debt

6. Legal Basis: Reference to the underlying contract or basis for the debt

7. Payment Demand: Clear statement of the amount due including any interest and costs

8. Payment Instructions: Bank details and deadline for payment

9. Consequences: Statement of legal actions that may follow non-payment

10. Closing: Formal closing, signature block, and creditor's details

Optional Sections

1. Interest Calculation: Detailed breakdown of interest charges - include when statutory or contractual interest has accrued

2. Previous Communications: Reference to prior payment requests - include in follow-up demands

3. Settlement Offer: Proposed payment arrangement terms - include when willing to negotiate

4. Power of Attorney: Declaration of legal authority - include when letter is sent by a representative

5. Consumer Rights Notice: Statement of consumer protection rights - include when debtor is a consumer

6. Dispute Resolution: Information about dispute processes - include for larger claims or complex cases

Suggested Schedules

1. Original Invoice: Copy of the unpaid invoice(s)

2. Statement of Account: Detailed breakdown of the debt, including principal, interest, and costs

3. Contract Extract: Relevant sections of the underlying contract or agreement

4. Payment History: Record of any partial payments or previous payment attempts

5. Interest Calculation Sheet: Detailed calculation of statutory or contractual interest

6. Proof of Delivery: Evidence that goods or services were delivered (if applicable)

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions




















Clauses















Relevant Industries

Financial Services

Retail

Manufacturing

Professional Services

Construction

Healthcare

Technology

Telecommunications

Real Estate

Wholesale Trade

Transportation

Energy

Agriculture

Education

Relevant Teams

Legal

Finance

Accounts Receivable

Credit Control

Collections

Risk Management

Compliance

Commercial Operations

Treasury

Business Operations

Relevant Roles

Credit Controller

Accounts Receivable Manager

Financial Controller

Legal Counsel

Collections Specialist

Finance Director

Credit Manager

Debt Recovery Officer

Commercial Manager

Compliance Officer

Chief Financial Officer

Business Development Manager

Account Manager

Risk Manager

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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