Complicated terms made simple. We know that many financial terms are hard to get. That's why we have worked even harder to make them easy to understand. And if there's still something that's not clear – get it in touch: we're happy to help.

  • If debts to banks are not repaid as agreed, a surcharge (default interest) is levied in addition to the agreed interest rate from the time when the default begins. In non-bank transactions, default interest is usually charged from the due date.

  • A document issued by a court of law which records the creditor’s claim against the debtor.

  • A judgment (or payment order) becomes final (i.e. enforceable) when the period for objection has expired.

  • The guarantor is treated like a co-debtor, but not until the principal debtor has failed to fulfil their payment obligations despite being requested and reminded as appropriate.

  • A judgment (or payment order) becomes final (i.e. enforceable) when the period for objection has expired.

  • A notices indicating that the payment is due. This is unnecessary if the due date is clearly laid down in the contract between the creditor and debtor, or if the debtor has accepted the terms and conditions. If the creditor is a bank, a repayment notice must be sent before collection measures are begun.

  • Once a final judgment (or payment order) has been issued, the creditor can apply for enforcement actions, like salary and/or chattel pledge against the debtor. The salary pledge involves seizing part of the debtor’s income, while the chattel pledge involves the debtor’s movable and/or immovable goods.

  • The terms and conditions on which a provider of a service, or seller of merchandise, is prepared to do business. Usually, the terms and conditions are accepted by the customer if he enters into the contract with such provider or seller.

  • In the course of a salary pledge, the debtor’s employer (referred to as the third-party debtor) is requested to disclose detailed information about the debtor’s income. This information is mandatory. Unless another creditor already pledged the debtor’s salary, the creditor is then entitled to directly receive the attachable part of the debtor’s salary from the debtor’s employer (also AMS [Labour Market Service in Austria] or PVA [Social Security Offices in Austria]).

Cookie Settings

We use cookies on our website to enable you to have the best possible website visit. These include cookies that are necessary for the operation of the website, those that are only used for anonymous statistical purposes, cookies that are used for comfort settings and cookies that are used to provide you with personalized, interest-based content. You can decide yourself whether you want to allow the use of statistics, comfort, and marketing cookies. In addition, you can change/withdraw your consent at any time by clicking on the Change Cookies settings on the bottom of the website. Further information can be found in our Privacy Policy.


We use necessary cookies. These cookies are necessary for the operation and the basic functions of the website. In particular, they enable the security-relevant functioning of our website.
You can read about which cookies we use here.


If you allow comfort cookies, we can make use of our site easier for you. If you visit our website again to use our services, it will automatically be recognized that you already visited us and the entries and settings you made will automatically be recognized so that you do not have to enter them again. For example, through this, you will not have to reenter your user data every time, but rather you can access the data already entered when you visit the website again.
You can read about which cookies we use here


We use statistical cookies to improve our offering and ensure a needs-based design and the continuous optimization of our website. 
For this, we collect anonymized data for statistics and analytics, for example, to determine site traffic and user behavior and to adapt and improve our content and the website experience. 
You can read about which cookies we use here


We use marketing cookies so that we can provide you with relevant and interest-based content when you visit our website.  
You can read about which cookies we use here.