Does anyone owe you money?

Does someone owe you money? Then you have a monetary claim against them. You are entitled to payment. The person who owes money is called a debtor, and the person who is entitled to the money is called a creditor. Both the creditor and the debtor can be both natural and legal persons.

There can be many different reasons why someone owes you money. To put it another way: a monetary claim can have different grounds. The most common is that you have entered into an agreement for the purchase and sale of goods and services. The seller of a sofa is entitled to payment for the sofa in accordance with the agreement. This is a typical consideration claim where you are entitled to payment for a consideration. Another example of a typical monetary claim is a loan agreement. Anyone who has borrowed money from someone else has a loan debt. This means that the person in question has an obligation to repay the loan to the lender. Another example is tax claims and other public claims or fees.

Does someone owe you money but refuses to pay? Then you may need to pursue your claim through the courts. This is a process that we at Insa advokater can help you with.

Remember that a monetary claim may be time-barred. This means that you must demand payment within a certain period of time in order to keep your claim. If you demand payment too late, you lose the opportunity to collect the money. The general rule is that a monetary claim is time-barred after 3 years. This means that you must send a demand for payment to the debtor no later than 3 years after the monetary claim arose. Are you unsure whether your claim is time-barred? Call Insa and we will help you.