Mahnfristen

Mahnfristen, a German legal term, refers to the period of time allowed for a debtor to pay an outstanding debt after receiving a formal demand for payment. This demand, known as a "Mahnung," is typically issued by a creditor when a payment is overdue. The Mahnfrist is the stipulated duration within which the debtor must settle the amount owed to avoid further legal action or the accrual of default interest.

The specific length of a Mahnfrist is not universally fixed and can vary depending on several factors. It can be determined by the terms of the original contract between the debtor and creditor. If no specific period is agreed upon, statutory provisions or general business practices may apply. The Mahnung itself will usually specify the exact duration of the Mahnfrist.

Upon expiry of the Mahnfrist without payment, the debtor is considered to be in default. This can trigger various consequences for the debtor, including the obligation to pay default interest ("Verzugszinsen") on the outstanding amount. Furthermore, the creditor may then initiate further legal proceedings, such as filing a lawsuit or obtaining a court order for debt collection. The concept of Mahnfristen is a crucial element in the German debt recovery process, providing a structured approach for creditors to seek payment and for debtors to rectify their overdue obligations.